The Twin Cities metro posted the second-biggest annual gain in home prices, according to the S&P/Case-Shiller Home Price Indices, which tracks prices in 20 metros across the country. During September the index for the Twin Cities rose 8.8 percent compared with a 3 percent gain for the 20-city composite. Prices in the Twin Cities were up 1.1 percent from August. Prices in Phoenix were up more than 20 percent.
That was the sixth straight month of house price gains across the country.
On a quarterly basis, the national composite was up 3.6 percent during the third quarter compared with last year and was up 2.2 percent compared with the previous quarter.
There's some speculation that on a national basis the gains will either slow, or end, in the coming months as the prevalance of foreclosure sales in the mix increases.
Here's a link to the full report.