From the BATC
November marked another month of relative stability in residential housing permits. Single family permits remain in positive territory, up a little more than eight percent over November 2010. Even with three large multi-family projects (two in Minneapolis at 104 and 47 units each and one in Forest Lake at 30 units), this month lagged behind November 2011 in total planned units by 35 percent.
According to statistics compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 235 permits for a total of 442 units during four weeks in the month of November, 2011. Year-to-date, there were 2,685 permits issued for a total of 3,961 units.
“While we have continued to see scattered improvements, we are also regularly reminded about how fragile the housing industry truly is,” said Builders Association of the Twin Cities 2011 President and co-owner of Imperial Homes, Rich Riemersma. “We were truly sad to see the demise of Rottlund Homes, the last of our local large-volume production builders.
“Rottlund Homes has been a leader in our association, in our industry and a huge supporter of our Foundation. We will miss them tremendously,” Riemersma said. Minneapolis led the metro in building activity for the month with 153 units permitted. Forest Lake followed with 34 units. Woodbury saw 27 units permitted, Maple Grove followed with 23 units and Plymouth rounded out the top five with 20 units.