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 for 196 multifamily units in November which is a 45% drop in activity from October.
“It is encouraging to see steady activity in the homebuilding sector as we begin to close out the year,” said Art Pratt, board chair of Housing First Minnesota. “The demand for new homes is strong and homebuilders are ready to respond to that need.”
There were 670 permits issued for a total of 856 housing units during the four comparable weeks in November, according to the Keystone Report.
“The steady growth in the homebuilding space reflects a desire for homeownership opportunities in Minnesota,” said James Vagle, CEO of Housing First Minnesota. “As the legislature prepares to convene for the 2025 session, we call on legislators to address the systemic regulatory issues and hurdles directly impacting the homeownership access for so many Minnesotans.”
For the month in permits, Maple Grove took the top spot with 73 permits issued. Lakeville came in next with 56 permits. Rosemount was third highest with 37. Lino Lakes was fourth with 31 permits. Farmington and Shakopee rounded out the top five with 30 permits both.
For the month in units, Burnsville came in on top with 172 permitted units. Maple Grove came next with 73 units, followed by Lakeville with 56 units. Rosemount came in fourth with 37 units. Lino Lakes rounded out the top five with 31 permitted units.