Market Information

Image for Record Low Inventory and Interest Rates Continue to Bolster New Homebuilding Activity in the Twin Cities

Record Low Inventory and Interest Rates Continue to Bolster New Homebuilding Activity in the Twin Cities

Twin Cities homebuilders had another strong month in January with total permits for new housing hitting levels not seen since 2006. Single-family construction in the area hit double digit gains over January of last year with 541 permitted units marking a 32% increase over 2020. Twin Cities multifamily construction had one…

Posted in Housing First Minnesota News, Housing Industry, Market Information | Tagged:

Image for Single-Family Construction Continues to Surge As Homebuilders Make up for Slow Spring

Single-Family Construction Continues to Surge As Homebuilders Make up for Slow Spring

The number of permits pulled for new single-family homes continued to soar in November, making up for the slow spring and bringing the total number of single-family permits for the year into the positive growth column. There were 701 permits pulled for single-family homes this month, an increase of 8%…

Posted in Housing First Minnesota News, Housing Industry, Market Information | Tagged: Homebuilding, Housing Data Twin Cities, Housing Market, New Home Data, Permit Numbers

Image for Strong Housing Demand Continues to Drive Twin Cities Homebuilding Activity

Strong Housing Demand Continues to Drive Twin Cities Homebuilding Activity

This month, Twin Cities single-family construction had its best October since 2005. There were 712 permits pulled for single-family homes this month, an increase of 28% over October of last year. Multifamily construction continues to slow its pace in the Twin Cities, with permits pulled for 675 units, a drop…

Posted in Housing Industry, Market Information | Tagged: Housing permits, October permit numbers, Twin Cities Housing Permits

Image for Twin Cities Homebuilding Surges in September

Twin Cities Homebuilding Surges in September

Construction for new single-family homes picked up significantly in September as low interest rates and pent up demand continue to impact the housing market. With 650 permits pulled, single-family construction jumped by 38% over September of 2019. That’s the highest number of single-family permits pulled in the month of September…

Posted in Housing First Minnesota News, Housing Industry, Market Information, Uncategorized | Tagged:

Image for Twin Cities Residential Permits Rebound in July

Twin Cities Residential Permits Rebound in July

After showing signs of a major slowdown in May and June, residential construction activity bounced back in July with double-digit gains in both permits issued and units planned. Single-family home permits jumped 13% in July compared to July 2019 with 580 permits pulled. Multifamily activity also saw a boost with 559…

Posted in Market Information | Tagged: 2020 Permit Numbers, Housing Data Twin Cities, Twin Cities Building Market, Twin Cities Housing Permits

Image for New Housing Starts Mixed as COVID-19 Effects Linger

New Housing Starts Mixed as COVID-19 Effects Linger

ROSEVILLE, MINN.  — New housing unit starts were down 5.3% in June 2020 compared to the same period in 2019. Single-family home starts dropped 42% in June compared to June 2019 with 391 permits pulled, but are only down 11% year-to-date over 2019. Multifamily starts were up nearly 26% this month with 1,010 units permitted,…

Posted in Housing First Minnesota News, Housing Industry, Market Information | Tagged: 2020 Permit Numbers, June Permit Numbers, Permit Numbers

Image for Ripple Effect of COVID Disruptions Impact May Building Permit Numbers

Ripple Effect of COVID Disruptions Impact May Building Permit Numbers

ROSEVILLE, MINN.  —  Homebuilding activity declined in the Twin Cities this month as the effects of COVID-19 reached the construction sector. Single-family permits decreased 25% year-over-year to 396 permits pulled in May 2019. Multifamily activity, which had already begun to slow, saw the number of units falling by 72% compared to May 2019,…

Posted in Market Information | Tagged: May Permits, Permit Numbers

Image for Twin Cities Single-Family Permits Continue to Show Strength

Twin Cities Single-Family Permits Continue to Show Strength

Homebuilding activity continued at a strong pace in the Twin Cities as single-family permits saw another month of double-digit gains in April. Builders pulled 474 single-family permits for the month, a 16% increase over April 2019 and the best April since 2006. Multifamily activity continued to slow in April with…

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