After several months of increased growth, single-family construction slowed slightly in July. The number of single-family permits pulled for the month dipped by five percent compared to July 2016. Multifamily construction saw little change from this time last year with 664 permitted units, up 3 percent from July last year.
According to data compiled by the Keystone Report for Housing First Minnesota, there were 454 permits issued for a total of 1,106 units during four comparable weeks in the month of July.
“Even with the slowdown in single-family activity this month, we expect to see continued growth in single-family construction in 2017,” said Bob Michels, president of Housing First Minnesota. “We remain concerned that the labor shortage facing our industry will impact the housing market.”
“For new construction to meet the current demand for single-family housing, we need to address the growing workforce challenge,” said David Siegel executive director of Housing First Minnesota.
For July, Lakeville took the top spot with 36 permits issued. Blaine came in next with 35 permits, followed by Plymouth with 21 permits, Otsego with 23 permits, and Woodbury with 20 permits issued.
Housing First Minnesota is the leading voice of home builders and remodelers and all who are dedicated to building safe, durable homes at a price Minnesotans can afford. As a program of the Builders Association of the Twin Cities, Housing First Minnesota represents 1,200 builders, remodelers, developers and industry suppliers throughout the state.
Download the July 2017 Data Chart