Price gains in the Twin Cities outpaced the nation during May, according to the latest Case-Shiller house price index (clicke here for the full report), which posted a 4.7 percent gain compared with last year and 3.1 percent gain compared with April. Those were among the biggest increases among cities on the Case-Shiller 20-city composite, which showed a decline of .7 percent from last year and a 2.2 percent increase from the previous month.
Though the index had dipped from last year, all 20 cities tracked by the group showed an increase compared with the previous month. The index is considered a bellwether for prices because it tracks repeat sales of the same houses based on public records, but it trails other reports.
Earlier this month the Minneapolis Area Association of Realtors said that the median price of all sales that closed in the Twin Cities during June was up more than 10 percent. Here's a link to a story with more detail about the Case-Shiller report.
