Tag: New Home Construction
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January Marks a Sluggish Start for Homebuilding in the Twin Cities
Twin Cities homebuilders saw a slow start to their year in January as mortgage rates and overall affordability woes continued to keep potential buyers out of the market. According to the latest data from the Keystone Report, homebuilders in the Twin Cities pulled permits for single-family homes at a 46% slower rate than January 2021. […] Read More
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Wait time for new homes increases
The timeline for new home construction is becoming noticeably longer in many parts of the country. This slowdown comes at a time when new homes are in high demand as the inventory of available homes for sale shrinks to a historic low. Almost two years of supply chain disruptions prompted by the COVID-19 pandemic caused […] Read More
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Building material costs impacted as demand falls from inflation
The price of construction materials for new homes continues to escalate going into summer. On top of already volatile supply chain effects still lingering from the COVID-19 pandemic, material costs are now starting to be impacted as inflation impacts most sectors of the economy. In 2021, the price of construction-related materials rose 15.9% throughout the […] Read More
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Dayton examines limiting development amidst housing inventory crunch
The city of Dayton is examining a new growth management plan for the city. The proposal released earlier this spring would increase side setbacks 33% in its R-3-zoned area and place a cap on new home growth at 400 units per year. In a letter to the Dayton Planning Commission, Housing First Minnesota questioned the […] Read More
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Building material prices continue roller coaster ride
The price of material for new homes continues to spiral up and down as the supply chain remains unstable following the impacts of COVID-19 and the pent-up demand for new housing. Building materials prices increased 15.9% in 2021 and have climbed 18.6% since December 2020, according to the latest Producer Price Index (PPI) report released […] Read More
