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 Twin Cities Homebuilding Sails into Spring

Twin Cities Homebuilding Sails into Spring

Multifamily construction roared back into action in March. While single-family construction lagged last March’s permit numbers, it still recorded the second-best March in over 15 years. Permits for new single-family homes in the Twin Cities dropped by 8% in March 2022 with 574 permitted units. Multifamily construction, including townhomes, saw…

Posted in Housing First Minnesota News, Market Information | Tagged: March Housing Permits, Multifamily construction, Residential Building Permits, Single-family Construction, Twin Cities Home Construction, Twin Cities Homebuilding