Metrostudy: Twin Cities new housing market shows signs of improvement

“Despite a weak economy, there are signs that the Twin Cities new-home market is very close to a bottom,” said Ryan Jones, director of Metrostudy’s Twin Cities division. The rate of job losses (4.3 percent) throughout the Twin Cities’ 13-county market area, remained elevated as more than 73,000 jobs were lost in the 12 months ending in September. While job losses remain a concern, the unemployment rate has likely hit its peak and is beginning to stabilize. It has dropped to approximately 7.3 percent, well below the national level.