There's plenty of evidence that housing construction is in the Twin Cities is in the midst of a serious recovery. We recently reported that building permits last month were the strongest since 2007. This week, the local office of Metrostudy released its quarterly report showing that the supply of buildable lots across the seven-county metro area has now fallen to just 28.2 months - slightly below pre-housing boom levels.
Here are a few other interesting and illuminating tidbits from the second-quarter report:
Ryan Jones, the director of the local Metrostudy office, said that the pressure is on to develop new lots.
“As activity continues to increase we will need to see substantial lot deliveries across the metro in order to meet demand,” said Jones.