The Home Builders Association of Fargo-Moorhead released its 2012 third-quarter building permit report for Dilworth, Fargo, Moorhead and West Fargo during a press conference today. The construction industry in the Fargo-Moorhead area is at a record-setting pace so far.
According to the report, total construction value is nearly $434 million, which is the highest ever posted through the first three quarters of the year. The previous high was at $428 million in 2006.
“What fantastic news! It is so exciting to see busy job sites and smiling faces of those working in the home building industry,” says HBA President Terry Becker, Terry Becker Construction, LLC. “After years of flooding and a shaky national economy, it is clear the industry is on a healthy trajectory again.”
Residential construction is also moving at a scorching pace, posting the highest number of housing starts in five years. Through September, the F-M area has posted 732 housing starts. This pace is up 29 percent from the same time period in 2011. (Housing starts include single-family, twin home and row houses.)
Housing starts are up dramatically in Fargo and West Fargo:
- Fargo is up 59 percent (325 starts – of which 242 are single-family permits);
- West Fargo is more than double last year’s numbers (322 starts – of which 264 are single-family permits).
Moorhead is on-pace or slightly ahead of where it was a year before. The city saw 73 housing starts through third quarter both this year and last, and its single-family permits are up 22 percent so far this year.
Click here to watch video of the press conference.
The HBA of F-M is a non-profit trade association of almost 800 members that has been in existence since 1956. Its mission is to provide quality services, benefits and education to members and the community while representing the collective interests of the home building industry. Its public events include the Spring Parade of Homes, Fall Parade of Homes, Red River Valley Home & Garden Show, Fall Home Show and Remodeled Home Tour. For more information, visit www.hbafm.com.