Twin Cities housing index flat for August

Friday, September 16, 2011

A new Twin Cities real estate index shows the median sale price of Twin Cities homes dropped in August, a time of year when sales are typically more robust.

The overall Twin Cities residential real estate index from the University of St. Thomas, which uses a variety of measures to reflect the health of the market, was essentially flat for August, climbing 1 point to 800 from 799 in July.

"This is concerning, since prices normally reach their highest levels in the spring and summer," said Herb Tousley, director of real estate programs at the University of St. Thomas.

The index, now in its third month, tracks nine data elements to gauge the state of the housing market in the 13-county metro area.

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Originally published: 09/16/2011, Star Tribune