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New housing unit starts were down 5.3% in June 2020 compared to the same period in 2019. Single-family home starts dropped 42% in June compared to June 2019 with 391 permits pulled, but are only down 11% year-to-date over 2019. Multifamily starts were up nearly 26% this month with 1,010 units permitted, but are down 10% year-to-date.
“For the second month in a row, the housing industry is seeing the effect COVID-19 is having on new-home starts,” said Gary Kraemer, president of Housing First Minnesota. “The silver lining is that for overall June activity, the total number of units was only down 5%, thanks to an increase in multifamily activity.”
According to data compiled by the Keystone Report for Housing First Minnesota, there were 421 permits issued for a total of 1,401 units during four comparable weeks in the month of June.
“Minnesota routinely ranks at the bottom in terms of available housing, and our inventory is worsening,” said David Siegel, executive director of Housing First Minnesota. “Transformational legislative reform around zoning and transparency is necessary for reducing roadblocks to building these needed homes.”
For the month, Lakeville took the top spot with 48 permits issued. Woodbury, with 22 permits issued, came in second. Blaine with 21 permits, Plymouth with 20 permits, and Lino Lakes with 19 permits rounded out the top five cities in June.