Market Information

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Single-Family Permits Surge in November

Single-family construction continued on a hot streak in November with 645 permits pulled, a 45% increase over this month last year. Multifamily construction slowed slightly with permits pulled for 691 units, falling 12% from November 2018. “Our housing market is in desperate need of new single-family inventory,” said John Rask,…

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Residential Constructions Steams Ahead in October

Residential construction saw the highest number of permitted units pulled in October since before 2003. For the month, 555 single-family permits were pulled for a nearly 20% increase over October of last year. Multifamily construction, especially in Minneapolis, had another strong month with 36 permits pulled for a total of…

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Another Hot Month for Single-Family Homebuilding

For the second month in a row Twin Cities’ single-family construction posted double digit gains in permit numbers. With 513 permits pulled for the month, single-family activity rose 12% over July 2018. With 406 permitted units, multifamily construction had one of its slowest months of the year, dipping below 50%…

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Image for Twin Cities Single-Family Construction Surges in June

Twin Cities Single-Family Construction Surges in June

Roseville, Minn. – After four months of falling permit numbers, single-family construction surged in June with a 21% increase over this time last year and a 6% increase over May. Multifamily construction slowed slightly in June falling 38% from last month with permits pulled for 803 units. “With mortgage rates falling,…

Posted in Housing First Minnesota News, Market Information | Tagged: Keystone Report, Residential Building Permits, Single-family Construction, Twin Cities Housing Market

Image for Twin Cities Homebuilding Picks Up in May

Twin Cities Homebuilding Picks Up in May

Multifamily construction continues to boost residential homebuilding activity, while single-family construction activity continues to fall flat. Several permits pulled for large projects in Minneapolis and Minnetonka pushed the number of multifamily units up to 1,306 for the month of May, a significant increase over this month last year. With 637…

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