The February 2011 MPLS home price index stands at 109.93. It is now down to Sept. 2000 valuations. The index peaked in Sept. 2006 at 171.12. Currently down 36% from the 2006 peak. After some recovery in prices, the index has been falling again for the past 7 months. Prices have dropped 8.3% in the past twelve months.
The full housing index is found here.