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Table 4-2 <br />NORTHSTAR CORRIDOR CITIES RESIDENTIAL BUILDING PERM ITS; 2000 TO 2011 <br />Minneapolis- Coon Elk Big % of <br />Year St. Paul MSA Fridley Rapids Anoka Ramsey River Lake Total MSA <br />2000 18,127 20 142 NA 91 284 306 843 4.7 % <br />2001 18,168 43 286 10 85 256 167 847 4.7 <br />2002 20,160 11 221 15 219 244 155 865 4.3 <br />2003 21,283 25 319 38 454 550 236 1,622 7.6 <br />2004 20,771 11 282 16 564 547 206 1,626 7.8 <br />2005 17,047 26 171 10 391 344 199 1,141 6.7 <br />2006 12,420 160 155 4 176 250 147 892 7.2 <br />2007 8,445 26 73 2 167 116 72 456 5.4 <br />2008 5,107 2 4 26 75 25 11 143 2.8 <br />2009 4,290 11 9 2 45 20 25 112 2.6 <br />2010 5,725 43 10 22 60 15 28 178 3.1 <br />2011 3,148 36 21 2 23 11 57 150 4.8 <br />Total 154,691 414 1,693 147 2,350 2,662 1,609 8,875 5.7 % <br />Source US Census,NorthstarComdor Co mmunities, Econo mic &Plannmg Systems, Inc , and McComb Group, Ltd <br />FOR -SALE RESIDENTIAL <br />Home Prices <br />The Case Schiller home price index tracks the growth in the value of residential real estate by <br />tracking the original purchase price and resale price of homes. The index tracks the major metro <br />areas in the U.S. and compiles a 10 and 20 city composite index for comparison. The <br />Minneapolis metro area home price index peaked in early 2006 and reached its bottom in <br />January 2011, as shown in Figure 4-1. Minneapolis home price index has matched closely with <br />Chicago's home price index over the past 10 years. Minneapolis home prices did not rise as high <br />as the composite 20 city index but prices dropped to a level almost as low as in 2000. The <br />recession coupled with the financial crisis had a major impact on consumer confidence, <br />employment and wages, and consequently on home values. <br />Figure 4-1 <br />NHNNEAPOLIS AND SELECTED CITIES HOME PRICE INDEX, 2000-2011 <br />275 - <br />250 <br />225 <br />200 <br />175 <br />150 <br />125 <br />100 <br />75 <br />'Minneapolis <br />- Chicago <br />Denver <br />- Seattle <br />- San Diego <br />Composite 20 <br />50 <br />Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 <br />Source: Case Schiller. <br />4-3 <br />