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Twin Cities April 2011 Residential Construction

Last month was the slowest April for local residential construction in at least five years, though optimism abounds for builders to see a rebound in single-family home construction later this year. Residential construction in the Twin Cities remains lethargic, according to the Builders Association of the Twin Cities’ (BATC) Keystone Report. There were 203 permits issued in April for a total of 230 units, a decline of 33% and 38% respectively from April of 2010. Those are the lowest numbers for April local residential construction in at least the past five years, according to the BATC. Year-to-date it is a similar story. During the first four months, there have been 758 permits issued for a total of 851 units. That is lower than the number of permitted units during the same time period of any for the last five years. BATC President Rich Riemersma said the organization expected construction to be down in the first quarter of 2
Posted on 02 May 2011