It was the best September for homebuilders in a decade and building permits for single family homes were up 40% from last year. The increase in single family home construction is a response to the shortage of homes for sale in the Twin Cities market. Demand for single family homes remains high and the Twin Cities ranks as one of the more undersupplied housing markets in the nation in relative to the jobs created. An anticipated seasonal decline in listings could accelerate the growth of home prices in the coming months.
Full Article-Buchta, J. (2016, September 29). Single-family homes take a big jump in September construction. Minneapolis Star Tribune.
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