This compares to multifamily units running at 53% for 2004, 49% in 2003, and 44% in 2002, 41.5% in 2001, and 37.5% in 2000. "The past several years have been incredibly active ones for local builders," says Doug Nelson, president of the Builders Association of the Twin Cities and owner of New Spaces. "And it's very difficult to make any judgments about the state of the market based upon one month."

Nelson says his association expects this year to be somewhat slower than past years, especially as interest rates rise, but the industry still expects to be quite busy. In January, there were a total of 610 permits, 23% lower than the 788 permits issued in January last year. The 943 planned units, which totaled in value of $192 million, were 21% behind the comparable numbers a year ago.

For planned units, Shakopee took first place with 52 units, North Oaks was second with 49 units, Otsego was next with 48 units, Eden Prairie followed with 43, and Rosemount rounded out the top five with 41. In permits, Rosemount took the lead with 31 permits, Shakopee was next with 27, Woodbury was third with 26, Coon Rapids, Elk River and Waconia all had 22 permits.