Metro home builders seeing boost in building permits issuedFarg-Moorhead (WDAY TV) - Home builders are calling it a breath of fresh air. There's been a big boost in building permits since the beginning of the year, showing the construction industry is on its way out of a slump.
Home builders are calling it a breath of fresh air. There's been a big boost in building permits since the beginning of the year, showing the construction industry is on its way out of a slump.
The Fargo-Moorhead Home Builders Association says housing off to the strongest start since 2006. Last year, Moorhead only had one, single permit for a new home. This year, they're already at more than 20."
Terry Becker – Home Builders Association: "It has to do with the structure of the tax system, the governments, the difference between North Dakota and Minnesota."
Crews are setting the foundation for a number of new homes in Moorhead, but it's still slow growth compared to West Fargo. There are already 30 more single-family homes are in the works. Last year, crews only constructed 11 new homes.
With workers framing up, and finishing homes so fast more than $80 million is coming into the Fargo-Moorhead area. That's up 62% from last year, despite facing challenges with costly flood-related regulations.
Terry Becker: "We have to elevate the homes now, pay extra money to put that in..."
The HBA says warm weather, plus confident buyers and builders are behind the boost which they expect to continue the rest of the year
Five years ago, the number of building permits in the F-M area was around 300. Now, it's already more than 600.