Home Building Activity Ticks Up in the Twin Cities
As consumer confidence and incomes rise, home building activity in the Twin Cities metro area continues to rebound. According to the Builders Association of the Twin Cities (BATC), housing construction so far this year is up 23 percent from the same period in 2012, putting builders on a track for their best year since 2007.
During June alone, 496 permits were issued to build 912 units. Minneapolis led the top five cities permitting 380 units. Brooklyn Park and Woodbury were in the second position with 31 units, followed by Ramsey with 29. Construction of new homes in Blaine MN, Chanhassen MN and Lakeville MN tied for fifth place with 23 units permitted each.
So far this year, builders were issued 2,379 permits to build 4,204 units, a dramatic change from this time four years ago when there were only 1,633 units.
In the south metro, Lakeville continues as the busiest homebuilding market in Dakota County and one of the metro area’s most active. The city has recorded 172 permits since the beginning of the year through the end of June, up from 107 for the same period a year ago.