Twin Cities Residential Construction Makes a Strong Start to 2012
Category: Newsroom » Market Info - January 30, 2012
Residential housing began the new year strong, with more than twice the number of permited units issued in January 2012 than in January 2011. Several larger multi-family projects boosted this months numbers, including 44-unit projects in both St. Paul and Hudson, Wisconsin, plus three projects (45, 60 and 75 units) in Minneapolis.
According to statistics compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 185 permits for a total of 465 units during four weeks in the month of January, 2012.
“There are plenty of indicators trending in the right direction for Twin Cities housing.” said Builders Association of the Twin Cities 2012 President and owner of Lee Lyn Construction, Curt Christensen. “According to Metrostudy, a national housing research firm, the Twin Cities ranks as one of the healthier markets in the country.
“Our members are gaining more confidence as the economy improves, and agree that a 10 to 15 percent increase for 2012 could be realistic,” Christensen said.
Minneapolis led the metro in building activity for the month with 178 units permitted. St. Paul followed with 46 units. Hudson, WI, trailed by just one, at 45 units, followed by Eagan with 18 and Maple Grove issued 16 for the month.