Market Information

Twin Cities Homebuilders Feel Impacts of Economic Outlook

March 30, 2025

Roseville, Minn – Twin Cities homebuilders saw a small decrease in activity in March, as mortgage rate pressures and economic uncertainty continue. Metro homebuilders pulled 380 permits for single-family homes throughout the month of March, marking a 6% decline in year-over-year activity. Multifamily construction, however, saw a healthy increase in activity…

Posted in Market Information | Tagged:

Metro Homebuilding Falters as Mortgage Rates Hinder Market Activity

February 27, 2025

Roseville, Minn – The impacts of mortgage rates are beginning to show in the new construction sector. Metro homebuilders pulled 374 permits for single-family homes throughout the month of February – a 9% decline from last year. Multifamily construction saw a sharp decline in activity in February with permits being…

Posted in Market Information | Tagged:

Twin Cities Residential Construction Continues to Show Strength in New Year

January 30, 2025

Roseville, Minn – Homebuilders in the Twin Cities started 2025 on a high note. Metro homebuilders pulled 461 permits for single-family homes during January – a 28% increase over the same time last year. Multifamily construction remained largely unchanged year-over-year with 213 units for the month. However, activity was down…

Posted in Market Information | Tagged:

Homebuilding Holds Steady in November

December 3, 2024

Roseville, Minn – Twin Cities homebuilding continued to show resilience in November. Metro homebuilders pulled 660 permits for single-family homes during the month of November – a 15% increase over the same time last year. Multifamily construction, however, saw a decrease in activity from the previous month. Builders pulled permits…

Posted in Market Information | Tagged:

Fall homebuilding ends on a strong note

November 1, 2024

Roseville, Minn – Despite mortgage rates beginning to increase, Twin Cities homebuilding was strong in October. Metro homebuilders pulled 664 permits for single-family homes – a 13% increase over the same time last year. Multifamily construction, however, posted its first year-over-year increase since February. Builders pulled permits for 354 multifamily…

Posted in Market Information | Tagged:

Pace of construction slows in September

September 26, 2024

Twin Cities homebuilding saw a drop in activity in September despite lowering mortgage rates. Metro homebuilders pulled 524 permits for single-family homes during the month of September – a 20% decrease over last year. Multifamily construction also experienced year-over-year declines. Builders pulled permits for just 181 multifamily units in September…

Posted in Market Information | Tagged:

Homebuilding Activity Slow in July, While Demand Remains Strong

July 26, 2024

Roseville, Minn – Summer homebuilding in the Twin Cities saw slower momentum in July as interest rates and affordability challenges continue to impact the housing market. Metro homebuilders pulled 452 permits for single-family homes during the month of July. This is a 1% increase over last year. Additionally, multifamily construction…

Posted in Market Information | Tagged: