After a data update, it turns out homebuilding was flat in the Twin Cities last month

August 4, 2017 at 12:27AM
Zach Hunter frames a roof on a new home under construction in Lakeville. (he works for GENCO builders). GENERAL INFORMATION: Lakeville, MN 6/02/2003 The Dakota County city is one of several that found itself a last-minute target of budget negotiators at the State Capitol. Lakeville and other fast-growing, mostly Twin Cities suburban cities will not be able to use exemptions for growth in determining how much it can levy its taxpayers. That means that levying for things such as roads and sewers w
July wasn't as great a month for new home construction in the Twin Cities as first thought. (Star Tribune/The Minnesota Star Tribune)

For housing data, one permit can make a considerable difference.

In its July report on new home construction, the Builders Association of the Twin Cities initially reported a 17 percent jump from the same month last year because of a steep increase in apartment construction.

But after updating its data to reflect that a permit thought to be for a 430-unit building in Edina was actually about half the size, its upbeat report from Wednesday turned into a lackluster one on Thursday.

During July, homebuilders were issued 454 permits to build 1,106 units, which was about the same as last year at this time, according to revised municipal data compiled by the Keystone Report for Housing First Minnesota, a program of the builders group.

Because a single permit can be issued to build multiple units, even a modest increase in the permit number can have a dramatic effect on overall construction in the metro from month to month.

Multifamily housing, mostly rental apartments, represented 60 percent of all construction activity during the month for a total of 664 units, only a slight increase over last year. The number of single-family permits, however, was down 5 percent compared with July 2016.

Jim Buchta • 612-673-7376

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Jim Buchta

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Jim Buchta has covered real estate for the Star Tribune for several years. He also has covered energy, small business, consumer affairs and travel. 

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