Market Information

Mixed bag of movement for Twin Cities homebuilding in July

August 1, 2025

Homebuilding activity in the metro area was mixed for the month of July as single-family saw a healthy uptick while multifamily projects dropped significantly. Overall, homebuilding activity improved 13% over July of last year. Metro builders pulled 503 permits for single-family homes in June – a 15% increase in year-over-year…

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Homebuilding Flat in the Twin Cities as Economic Headwinds Continue

June 27, 2025

Summer homebuilding in the Twin Cities metro is continuing to feel the squeeze of economic shifts. Overall homebuilding activity in the metro was statistically flat year-over-year. Metro builders pulled 541 permits for single-family homes in June – a 1% marginal increase in year-over-year activity. Multifamily construction, however, reported 189 units…

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Economic Headwinds Stifle Summer Homebuilding

May 30, 2025

Mounting economic stressors are creating pressure on homebuilding activity in the Twin Cities. Metro builders pulled 590 permits for single-family homes in May – an 11% reduction in year-over-year activity. Multifamily construction also recorded an extremely low month of activity with just 22 units on record for May. “We’re generally…

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April Homebuilding Shines as Economic Uncertainty Looms

May 1, 2025

Despite economic concerns, Twin Cities homebuilders recorded a positive month of activity. Metro builders pulled 608 permits for single-family homes in April, marking a 12% growth in year-over-year activity. Multifamily construction also recorded a 17% uptick in activity compared to the previous month. “Minnesota’s spring housing market is staying steady,…

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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…

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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…

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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…

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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…

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