The number of housing construction permits issued in January increased in the Twin Cities area compared to 2010. However, the number of units that were permitted declined, along with the total value of the permits released.
According to the Minnesota Keystone Report issued by the Builders Association of the Twin Cities, the total number of permits issued last month was 205, compared to the 189 permits issued in January 2010 and the 127 issued in January 2009. Total permitted units including multi-family housing projects was just 214, declining from 350 a year ago.
The total value of new residential building permits in the Minneapolis-St. Paul metro area fell to $62 million, down from $67 million in the same month a year ago. The decline in spending paired with the increase in permits means builders are constructing smaller projects.
Woodbury led the metro area in building activity for January with 22 units permitted. Maple Grove was next with 19 units, Blaine followed with 17, with Rosemount and Shakopee at 12 and 11 respectively.