"The (Minneapolis) housing market may slow down somewhat but the recovery will not be derailed since homeownership will remain affordable for most households." ~ Shenehon Center for Real Estate at the University of St. Thomas
Minneapolis, Twin Cities Minnesota (PRWEB) August 01, 2014
Minneapolis MN comes out as a lead city national for one of the best “recession-recovered” metropolitan areas, according to a new study called 2014’s Most & Least Recession-Recovered Cities. Accessing the achievements of local economies and housing markets, the rankings offer applause for the top ten cities showing improvements and offer a measuring stick for how much work is yet to be accomplished.
"The Minneapolis - St. Paul housing market is firmly in recovery, as the study buoys up former findings of strength across the metros 13 residential communities," says Jenna Thuening, owner of Home Destination. "Its thrilling to see Minneapolis MN rank in the top 10 as a most 'recession-recovered' city."
WalletHub analyzed housing and economic data to identify 2014's Most & Least Recession-Recovered Cities across the nation. Their analysts studied the 150 top housing markets to discover the metros that have underwent the maximum and minimum level of improvement since the recession, and Minneapolis is given an overall score of 7th place.
Of significant size, 150 U.S cities were evaluated for this report established on 18 principal metrics. In the mix of the criteria are; the saturation of college–educated workers, rate of new business influx, unemployment factors, and home price appreciation. Offering a comprehensive and reliable perspective participants made a strong attempt to focus on both the short and long term work that achieving recovery mandates.
U.S Cities That Have Recovered from the Recession Best:
1. Laredo, TX
2. Irving, TX
3. Fayetteville, NC
4. Denver, CO
5. Dallas, TX
6. Corpus Christi, TX
7. Minneapolis, MN
8. Lubbock, TX
9. Garland, TX
10. Raleigh, NC
Additional noteworthy rankings gained by Minneapolis, Minnesota in the report. Out of 150 of the largest U.S. housing markets, Minneapolis is ranks in the following manner:
- Minneapolis ranks 2nd for employment and earning opportunities, just behind Denver, Colorado.
- Minneapolis tied for 5th best with the City of St. Paul, MN for metros showing the largest decrease in the unemployment rate across the nation. Toledo, Ohio took 1st, Grand Rapids, Michigan 2nd, with Akron, Ohio and Cleveland, Ohio tying for 3rd.
- The Minneapolis metro came in 4th for the largest decrease in violent crime rate, which helps make residential neighborhoods safer. Orlando, Florida was 1st, St. Petersburg, Florida 2nd, and Miami, Florida 3rd.
- Minneapolis ranked 29 out of the 150 metros in the economic environment tier.
In a March 24, 2014 article titled Would Rising Interest Rates and Home Prices Put the Twin Cities Housing Recovery in Jeopardy? by the University of St. Thomas newsroom, the answer was "no". Herb Tousley, director of real estate programs at the university, has been proved right since then. He stated, “the housing market may slow down but the recovery will not be derailed since home ownership will remain affordable for most households.”
"Even with the asking price of homes across the metro continuing upward and some borrowers scrambling to meet tight lending requirements, the Minneapolis housing recovery still takes high rankings," adds Thuening. "Twin Cities residents in the surrounding metropolitan areas benefit from the present economic health found in the metro."
About Home Destination - Twin Cities Real Estate:
Home Destination offers a loyal and committed real estate professional service that personally handles all the details of selling or purchasing a Twin Cities home. Highly regarded by peers as a Minneapolis metro expert for over 15 years, gain a skilled representative as guide to make the best possible housing decisions.