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Housing Construction in the Twin Cities Declined in August

Brace Helgeson
A recent report released by the U.S. Census Bureau showed that the number of new housings start, including all types of buildings for the month of August dropped by 14.4 percent over the previous month. The decrease is mostly a result of fewer apartments and other multifamily units being built.

Here in the Twin Cities we saw a similar decline last month in housing starts. Similar to the nation drop here in the Twin Cities there were fewer permits for apartment buildings. 26 percent of all new units made up the apartment permits down an average of 50 percent for the year.

Across the nation there was a small drop in the number of new single-family homes, down 2.4 percent over July. However, the number of new starts was 8.0 percent higher than this time last year, and the number of new single-family home starts is up 4.2 percent over last year.

If you are looking to buy or sell a home this fall contact me. Our group specializes in Eden Prairie Real Estate, Chanhassen Real Estate, Chaska Real Estate, Lake Minnetonka Real Estate, Edina Real Estate and West Bloomington Real Estate.


Brace Helgeson Coldwell Banker Burnet

Licensed in Minnesota/Lic # 92065

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