Roseville, MN (April 26, 2013) – Just released statistics for April 2013 show that while single-family homes continue strong (up nearly 27 percent), two Minneapolis multi-unit apartment buildings pushed planned units up 111 percent over April 2012. Year-to-date, the region pulled 50 percent more permits for 30 percent more units over the same time period in 2012.
According to data compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 372 permits for a total of 817 units during the first four weeks in the month of April, 2013. Year-to-date, cities issued 1,386 permits for a total of 2,475 units.
“As the market has steadily improved, our members are optimistic about potential sales and report steady demand,” said Builders Association of the Twin Cities 2013 President and Developer with Senior Housing Partners, Pamela Belz. “However we are mindful of areas of concern such as costs of materials, labor, regulation, and a declining inventory of attractively priced and located lots.”
Minneapolis once again led the top five cities permitting 408 units in April. Lakeville moved into second position with 32 units, followed by Chanhassen with 29, Woodbury with 24, and Blaine with 20 units permitted.
Download the data chart below.