Market Information

Image for Twin Cities Homebuilding Shows Strength Despite Rising Interest Rates

Twin Cities Homebuilding Shows Strength Despite Rising Interest Rates

Permits for Single-family homes increase 66% in August ROSEVILLE, MINN.  — Twin Cities single-family home construction saw strong gains in August even as interest rates reached a 20-year high. Metro builders pulled permits for 571 single-family homes during the month, a 66% increase from August of last year. Multifamily construction; however,…

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Image for Home construction in the Twin Cities sees gains in July

Home construction in the Twin Cities sees gains in July

Single-family home construction enters positive territory for first time since last year Roseville, Minn – Twin Cities single-family home construction in July recorded its first month of positive activity since January of 2022. Metro builders pulled permits for 446 single-family homes during the month, a 38% increase from last year.

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Image for Homebuilding Slowdown in the Twin Cities Continues

Homebuilding Slowdown in the Twin Cities Continues

Multifamily activity plummets; single-family shows signs of improvement Roseville, Minn – Single-family home construction in the Twin Cities remains behind last year’s pace but continues to pick up speed. Multifamily construction activity in the metro continues to slow. Twin Cities builders pulled permits for 524 single-family homes this month, a…

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Image for Twin Cities Homebuilding Activity Picks Up in May

Twin Cities Homebuilding Activity Picks Up in May

Single-family permits fall by 13% year-over-year in May Homebuilding is starting to show some signs of improvement as the demand for new homes in the Twin Cities remains strong. Twin Cities builders pulled permits for 487 single-family homes in May, a 13% decrease from this time last year. While still…

Posted in Market Information | Tagged: Homebuilding permits, Housing Market Data, May building activity, May Construction, Residential construction, Twin Cities Homebuilders, Twin Cities Homebuilding

Image for Twin Cities Homebuilding Continues Its Slump in April

Twin Cities Homebuilding Continues Its Slump in April

Homebuilding continues to lag in the Twin Cities even as the metro faces a stark shortage of homes. Twin Cities builders pulled permits for 386 single-family homes in April, a 38% drop from this time last year. Multifamily construction continued its downward trend with permits pulled for 240 units, an…

Posted in Housing First Minnesota News, Market Information | Tagged: Housing Data Twin Cities, Housing Market Data, Residential Building Permits, Spring Housing Market

Image for Minnesota Homebuilders Remain Committed to Green Building

Minnesota Homebuilders Remain Committed to Green Building

According to Residential Energy Services Network (RESNET), Minnesota has one of the lowest average Home Energy Rating System (HERS) Index Scores of all states in the country that energy tested more than 3,000 homes in 2022. The lower the HERS Index Score, the more energy efficient the home is. According…

Posted in Green Homes, Market Information, MN Green Path | Tagged: Energy Tested Home, Green Building, Green Path Home Performance Report, Minnesota Homebuilders

Image for Twin Cities Homebuilding Activity Slows to a Crawl in March

Twin Cities Homebuilding Activity Slows to a Crawl in March

Permits for New Housing Fall by 44% in March No relief in sight for the Twin Cities housing shortage as homebuilding activity continues to slow in March. Twin Cities builders pulled permits for 324 single-family homes in March, a 43% drop from this time last year. Multifamily construction…

Posted in Market Information | Tagged: March Building Permits, Parade of Homes, Twin Cities Homebuilding, Twin Cities Housing Market

Image for Twin Cities Homebuilding Activity Remains Sluggish in February

Twin Cities Homebuilding Activity Remains Sluggish in February

Permits for new single-family homes fell by 50% in February Homebuilding activity remained lackluster in February as mortgage rates continue to hold back the housing market. Twin Cities builders pulled permits for 217 single-family homes in February, a 50% drop from this time last year. Multifamily construction in the Twin…

Posted in Housing First Minnesota News, Market Information | Tagged: Housing First Minnesota, Multifamily construction, Single-family Construction, Twin Cities Homebuilding, Twin Cities Housing Market

Image for Slow Start to 2023 for Twin Cities Homebuilders

Slow Start to 2023 for Twin Cities Homebuilders

Permits for new single-family homes fell by 46% Twin Cities homebuilding activity continues to stall as mortgage rates hold homebuyers on the sidelines. Metro builders pulled permits for 328 single-family homes in January, a 46% drop from January of last year. Multifamily construction in the Twin Cities hit…

Posted in Housing First Minnesota News, Market Information | Tagged: Housing First Minnesota, Housing Market Data, James Vagle, John Quinlivan, Residential Building Permits, Twin Cities Homebuilders, Twin Cities Housing Data, Twin Cities Housing Market

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