Friday, May 25, 2018

Minneapolis Housing Market Bottoms, Moves Sideways



(Click on the image to enlarge)
The Minneapolis housing market was almost parabolic in 2017, meaning sharp rise in first six months, followed by steady decline through the end of the year, erasing almost all of the short-term gains.  

The good news is, the market has temporarily bounced off the bottom. The smoother trendline (blue) suggests a sideways movement within a tight range (220K to $230K). 

The normalized SPSF (bottom chart) demonstrates a similar trend, with the smoother trendline moving sideways between $170 and $180/SF.

Of course, the market needs to stay above the $220K +/- support, breaching which could reopen the wound.   


Note: This analysis covers the City of Minneapolis, not the entire Hennepin County. 

- Sid Som, MBA, MIM
President, Homequant, Inc.
homequant@gmail.com

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