Minneapolis Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The Minneapolis housing market has seen a continued decline from the price increases of years past. The continued declines in sales activity has increased the number of homes on the market and is forcing sellers to lower their expectations. Further sales declines should be expected due to current local market psychology, however, significant price declines are unlikely as the mortgage debt servicing cost has remained comfortably low.

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Nominal Price Activity		Minneapolis	National	Comment
.	Quarterly Appreciation (Q3:2006 – Q4:2006)	-2.2%	-2.7%	Poor
	Rolling Year Appreciation (Q4:2005 – Q4:2006)	-1.1%	1.7%	Poor
	Last Year Appreciation (2005)	7.5%	13.4%	Fair
	Rolling 5 Year App. (Q4:2001 – Q4:2006)	38.0%	49.4%	Fair
	Historical Average Annual Appreciation	6.1%	6.0%	Fair
Real Price Activity		Minneapolis	National	Comment
.	Quarterly Appreciation (Q3:2006 – Q4:2006)	-2.6%	-3.0%	Poor
	Rolling Year Appreciation (Q4:2005 – Q4:2006)	-4.0%	-1.2%	Poor
	Last Year Appreciation (2005)	4.6%	10.3%	Fair
	Rolling 5 Year App. (Q4:2001 – Q4:2006)	21.6%	31.8%	Fair
	Historical Average Annual Appreciation	1.9%	1.7%	Fair
Affordability Activity		Minneapolis	National	Comment
	Mortgage-Debt-to-Income Ratio* (Q4:2006)	17.2%	21.7%	Very Favorable
	Historical Mortgage-Debt-to-Income Ratio*	15.9%	20.7%	Very Low
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*	This ratio compares the monthly mortgage payment (principal & interest only, which does not include hazard insurance, property taxes or any needed private mortgage insurance) for a median priced home financed at the prevailing 30 year mortgage rate to the local median 4-person family income.
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	Minneapolis historical data is for the time period of Q2:1976 – Q4:2006
	National historical data is for the time period of Q1:1975 – Q4:2006

MINNEAPOLIS, MINNESOTA - Q4:2006