Building Permits Authorized, Minneapolis / St Paul, MN

Just a quick update of the new construction activity in the Twin Cities metro area.  Building Permits have been up recently, below is a look at all building permits including Apartment Buildings (1 permit for every unit).  This shows a substantial increase.

Monthly: Not Seasonally Adjusted:

2012-06-01   766
2012-07-01  1091
2012-08-01   749
2012-09-01  1501
2012-10-01  1577


If we look at just 1-Unit structures, aka. Single Family Homes – we see a little different result.  It paints a pretty clear picture of the marketplace.  The market is still “Renting” vs. “Owning”.   It doesn’t tell us why, but that is a pretty easy speculation.  Lack of Jobs, Lack of Confidence, and difficulty financing.

Monthly - Not Seasonally Adjusted:
2012-06-01   594
2012-07-01   511
2012-08-01   567
2012-09-01   557
2012-10-01   556
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Realtor. Twin Cities Area specializing in New Construction, Development and Investment Properties.