This compares to multifamily units running at 48.6% in 2003, 43.7% in 2002, 41.5% in 2001, and 37.5% in 2000.
In March 2004, there were a total of 690 permits—down 5% from a year ago March--issued for 1,502 planned units—down 8% from a year ago March--at a value of $195.5 million, up 2% from a year ago March.
David Berson, vice president and chief economist of Fannie Mae, recently told the association that builders should again see a record number of starts in new housing this year, according to Rick Kot, 2004 president of the Builders Association of the Twin Cities and president of R.A. Kot Homes.
"Berson explained that consumer confidence, jobs and income are all improving, while interest rates should rise only moderately, topping out at no more than 6.5% by year-end," Kot says.
For planned units in March, Lakeville moved into first place with 102 units, followed by Woodbury with 74, White Bear Lake with 64, Blaine with 49 and Brooklyn Park with 48.
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