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Twin Cities Ranked Sixth Healthiest Real Estate Market for 2011

Thanks to an improving U.S. economy, rising employment and more income flowing into consumer pockets, many real estate markets could be considered healthy. Minneapolis is one of them, according to Gathering Strength: The Healthiest Markets for 2011 from Builder online. The Minneapolis-St. Paul metro was ranked sixth according to their index. Here is what Builder had to say about the Twin Cities area’s real estate market: 2011 Building Permit Forecast: 9,403 Percent Change in Building Permits: 66% The Little Apple appears poised for growth. Last year’s strong rebound in permit activity–filings were up 22 percent in 2010, led by a surge in multifamily–is expected to accelerate in 2011. If builders actually pull 9,403 permits this year, as Moody’s forecasts, that would equal half the volume of 2005. Foreclosure filings actually fell in Minneapolis last year, though banks still have inv
Posted on 31 March 2011

Twin Cities May Be a Hot Market for Multi-Family Housing Construction

Multifamily permit activity has been unpredictable, rising 17% one month and then falling 8% the next. An analysis of year-wide 2010 permit data shows where 2011 development activity is likely to be concentrated. The Twin Cities area is ranked in the top 20 for projected apartment construction. Based on sharp permit increases in many major markets, the rise in demographically favored multifamily construction may be imminent. Some of the greatest growth for households within the U.S. over the next ten years will be in the 25 to 34 age group that’s more likely to rent apartments. On the other hand, multifamily construction has been so depressed that an increase in activity isn’t really a surprise. Marcus & Millichap, a research and brokerage firm, forecasts that vacancies and rents will increase in 44 apartment marke
Posted on 28 March 2011