Twin Cities Residential Construction Comes on Strong in March

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In addition to bringing the region an early spring, March, 2012, signaled an increase in Twin Cities permit activity. Compared to March of 2011, the region had a 51 percent increase in permits, and units were up by 164 percent. This continues the growth seen in January and February, with year-to-date permits up by 145 percent over 2011.

According to statistics compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 234 permits for a total of 530 units during four weeks in the month of March, 2012.

“Our members are definitely seeing increased activity,” said Builders Association of the Twin Cities 2012 President and owner of Lee Lyn Construction, Curt Christensen. “Reports from the Parade of Homes(sm) which ran from March 3rd through April 1st, have been very positive. Across the board, our builders said this was the most successful Parade of Homes in years.”

“Our industry is hopeful that housing is beginning to rebound, but are remaining cautious with their business decisions,” Christensen said.

Minneapolis, with the help of a 283 unit multi-family building, led the metro in building activity for the month with 285 units permitted. Blaine followed with 33 units. Woodbury showed 20 units permitted, with Plymouth coming in at 18 and Lakeville rounding off the top five with 17 units permitted.

March 2012 Permits Release Chart (PDF)