Thanks to a slight improvement in the U.S. economy, rising employment and more income, many real estate markets could be considered healthy. Minneapolis is one of them, according to Gathering Strength: The Healthiest Markets for 2011 from Builder online. The Minneapolis-St. Paul real estate market was ranked sixth according to their index. Here is what Builder had to say about the Twin Cities real estate market:

2011 Building Permit Forecast: 9,403

Percent Change in Building Permits: 66%

Foreclosure filings actually fell in Minneapolis last year, though banks still have inventory to work through.  The current median existing home prices in Twin cities, which stood at about $167,000 at the end of last year, have fallen to $142,500. The market enjoys decent household growth for a Northern city, though most of it comes from natural growth. It still has a hard time attracting residents.

The housing industry in Minneapolis, a major hub for medical technology, is supported by a relatively high median income level among residents. Six Fortune 500 corporations make their headquarters within the city limits of Minneapolis: Target Corporation, U.S. Bancorp, Xcel Energy, Ameriprise Financial, Thrivent Financial for Lutherans and PepsiAmericas.  Apart from government, the city's largest employers are Target, Wells Fargo, Ameriprise, Star Tribune, U.S. Bancorp, Xcel Energy, IBM, Piper Jaffray, RBC Dain Rauscher, ING Group, and Qwest

When you’re ready to start looking for homes for sale in MN please call us at Realty Group Inc.  We are your solution for Minnesota real estate.