Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?
Annie Baxter
St. Paul, Minn.

Twin Cities home prices up 11% in October

Go Deeper.

Create an account or log in to save stories.

Log inCreate a free Account

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Show me!

Twin Cities home prices were up about 11 percent in October compared to the same month last year, according to the closely watched S&P/Case-Shiller Home Price Index.

The Twin Cities increase was just below the 14 percent October-to-October gain calculated for the nation's 20 major metropolitan areas.

While the double digit increases are impressive, many housing experts say that trend can't continue.

David Blitzer, chair of the index committee at S&P Dow Jones Indices, said he expects to see weaker price gains in the Twin Cities and other big markets in the coming year.

That's not a bad thing, he added.

"I do think double digit growth in home prices doesn't happen very often and is really not that sustainable over the long period," he said. "We tried that about six years ago and the results weren't too pretty."

Home prices will moderate in 2014 partly due to lower demand for housing. The Federal Reserve will likely continue to taper its bond-buying program in 2014 and that could push up interest rates and slow demand for mortgages, he added.

Even as housing softens a bit, Blitzer said he expects other parts of the economy will pick up.