Twin Cities Housing Market

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% 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 the Twin Cities hit…

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 Twin Cities Homebuilding Continues Cool Down in August

Twin Cities Homebuilding Continues Cool Down in August

It was another slow month for Twin Cities homebuilders as permits for new single-family homes continue to fall. For the month, builders pulled 344 permits for new single-family homes, a 28% drop from last August. Multifamily construction slowed from the high pace of the previous months this year, but it…

Posted in Housing First Minnesota News, Market Information | Tagged: Housing permits, Housing Units, Minnesota Housing Market, Permit Numbers, Twin Cities Homebuilding, Twin Cities Housing Market, Twin Cities Residential Permits

Image for Permits for Single-Family Homes in the Twin Cities Hit 16-Year High in 2021 Despite Construction Headwinds

Permits for Single-Family Homes in the Twin Cities Hit 16-Year High in 2021 Despite Construction Headwinds

December residential permits fell in 2021, but not by enough to offset the strong start to the year Following a feverish start to the year, the pace of new residential construction slowed as 2021 came to a close reflecting the numerous challenges on the horizon for the construction…

Posted in Housing First Minnesota News, Market Information | Tagged: December Permit Numbers, Housing Data Twin Cities, Housing First Minnesota, Twin Cities Homebuilding, Twin Cities Housing Market

Image for Twin Cities homebuilding slows from furious to fast pace

Twin Cities homebuilding slows from furious to fast pace

The pace of construction of single-family homes in the Twin Cities continues to slow, especially when compared to last year’s second-half surge. Area homebuilders pulled 594 permits for new single-family homes in October, a 5% drop from October of last year. Multifamily construction had another strong month with 1,178 permitted…

Posted in Housing First Minnesota News, Market Information | Tagged: October permit numbers, Twin Cities Homebuilding, Twin Cities Housing Market

Image for Twin Cities Homebuilding Continues to Push Ahead Despite Numerous Headwinds

Twin Cities Homebuilding Continues to Push Ahead Despite Numerous Headwinds

Permits for new single-family homes continued to climb in July, despite the numerous challenges in the homebuilding process right now. Twin Cities homebuilders pulled 640 permits for new single-family homes in July, a 10% increase over last July. After several months of lackluster numbers, multifamily construction had one of its…

Posted in Housing First Minnesota News, Housing Industry, Market Information | Tagged: Housing permits, Twin Cities Building Stats, Twin Cities Housing Market

Image for Twin Cities Home Construction Continues to Surge in March

Twin Cities Home Construction Continues to Surge in March

The impacts of historically low existing housing inventory and low mortgage rates continue to push demand for new single-family homes in the Twin Cities to highs not seen since 2004. For the month of March there were 631 permits pulled for single-family homes, an increase of 50% over March of…

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

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

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