For the third month in a row residential construction failed to beat the previous year’s numbers. Single-family permits were down 12 percent when compared to May 2014, while multi-family permits were down 15 percent from this time last year.
According to data compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 359 permits issued for a total of 516 units during four comparable weeks in the month of May 2015.
“While we are pleased to see construction clipping along at a relatively steady pace, we remain concerned after seeing three months of disappointing numbers,” said Chris Contreras, 2015 BATC President.
“The rest of the country is reporting major construction gains, which leaves us wondering why we are not seeing the same here in the Midwest,” said Contreras. “We remain worried that the increased regulatory burden in our state is making housing affordability a challenge, and putting a strain on the new construction market.”
For the month, Champlin issued the most permitted units at 72, followed by Edina with 65, and Lakeville for third with a total of 34 units. Rounding out the top five is Blaine with 27 permitted units and Maple Grove with 23 units.
