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Despite mortgage rates falling to their lowest levels in a year, growing macro-economic concerns are slowing housing market activity. Twin Cities homebuilding reflected this in the month of October, with overall new construction activity up just 5% over last year. Metro builders pulled 616 permits for single-family homes in October,…

Twin Cities single-family homebuilding held onto its positive trend as 2024 ended. Metro homebuilders pulled 471 permits for single-family homes during the month of December – a 17% increase over the same time last year. Multifamily construction saw an increase in activity from the previous month. Builders pulled permits for…