New Housing Construction Slowly Increasing In the Twin Cities Region
New housing construction in the Twin Cities metro region is lagging slightly behind last year. The number of new apartments being built has seen a drastic decline, while the construction of single-family homes seems to be holding its ground.
In the month of April there were a total of 350 permits issued, to build a total of 451 units across the metro region according to data released by the Builders-Association of the Twin Cities (BATC). Compared to this time last year the number of new apartment permits issued was down 20 percent.
"We’re pleased to see stable numbers, but with early-year forecasts across the board predicting a year of more substantial gains, being flat is disappointing,” commented BATC President Chris Contreras.
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