Market Information

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% Warsaw Apteka Polska 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…

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

Image for Building Permits for Single-family Homes in the Twin Cities Fall Short in 2022

Building Permits for Single-family Homes in the Twin Cities Fall Short in 2022

Slowest December in a decade for new single-family home construction The 2022 Twin Cities housing market saw deep impacts from the rate hikes by the Federal Reserve as they pushed mortgage interest rates to a 20-year high. With a larger share of homebuyers now unable to purchase a new home,…

Posted in Market Information | Tagged: 2022 Housing Market, December Permit Numbers, Housing First Minnesota, new homes, Twin Cities Building Data, Twin Cities Building Market, Twin Cities Housing Market

Image for Homebuilding Cooldown Continues in November

Homebuilding Cooldown Continues in November

Permits for new Twin Cities single-family homes fell 37% in November Uncertain economic conditions and interest rates continue to have a chilling impact on homebuilding activity. For the month of November, homebuilders pulled permits for 389 new single-family homes, a 37% drop from last year. Multifamily construction activity…

Posted in Housing First Minnesota News, Market Information, Uncategorized | Tagged: Homebuilding permits, Housing Data Twin Cities, November Housing Permits, Residential Housing permits, Twin Cities Building Market

Image for Homebuilding Activity Continues to Slump as Twin Cities Homebuyers Struggle With Affordability and Interest Rates

Homebuilding Activity Continues to Slump as Twin Cities Homebuyers Struggle With Affordability and Interest Rates

Rising interest rates continue to have a major impact on homebuilding in the Twin Cities. For the month of October, homebuilders pulled permits for 276 new single-family homes, a 54% drop from last year. Multifamily construction also slumped in October, with permits pulled for 460 units, a 60% drop from…

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

Image for Twin Cities Permits for New Homes Continue to Fall in September

Twin Cities Permits for New Homes Continue to Fall in September

Homebuilders in the Twin Cities metro continued to see a scale back in construction activity in September. For the month, homebuilders pulled 410 permits for new single-family homes, a 27% drop from last September. Multifamily construction picked up in September, with permits pulled for 1,221 units an increase of 6%…

Posted in Market Information | Tagged: Housing First Minnesota, Housing permits, Minnesota Housing Market, New Homes Twin Cities, Residential Building Permits, Twin Cities Housing Data, Twin Cities Permits

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