Housing permits up 5% from year ago

Last update: October 7, 2009 - 9:05 PM

In the latest sign that the housing market is improving compared with last year, residential housing permits issued in the Twin Cities rose 5 percent in September over September 2008, the Builders Association of the Twin Cities announced Wednesday. But the number of permits issued fell 10 percent compared with last month, reflecting the typical seasonality of the business, the association said.

In September 2008, 224 permits were pulled for 447 units. This September, 235 permits were pulled for 437 units. Last month, 264 permits were pulled for the construction of 542 units.

"For the first time in well over two years, the year-over-year monthly permit comparisons have entered positive territory," association President Mike Swanson said in a statement.

Positive reports from the Parade of Homes as well as a surge of interest from first-time home buyers wanting to take advantage of the $8,000 tax credit are also encouraging signs of a thawing market, association marketing director Wendy Danks said.

Maplewood led the metro area in building activity in September, with 158 units issued permits, 150 of those for a multifamily project. Shakopee came in second with 60 units, followed by 43 units for Hugo, 21 for Woodbury and 15 for Farmington.

KARA MCGUIRE

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