The Home Builders Association of Fargo-Moorhead released its 2012 year-end building permit report for Dilworth, Fargo, Moorhead and West Fargo during a press conference Feb. 22. The press conference was held during set- up for the Red River Valley Home & Garden Show.
Total value of all construction activity in the F-M metro area saw an increase of $195 million dollars in 2012, which is 34 percent more than 2011. Total housing construction value went up 38 percent; this includes single-family, twin-home, row/town house and duplex construction. In fact, all categories, except commercial remodeling, experienced an increase in value over 2011.
Along with the increase in total construction value, three of the four metro cities experienced an uptick in housing permits and housing construction value. All said, total housing starts climbed from 612 in 2011 to 945 in 2012, a 35 percent increase. At 760 permits, single-family construction was at its highest level since 2005: West Fargo more than doubled its permits while Fargo and Dilworth saw 25-percent and 6-percent increases respectively over 2011. Moorhead’s total housing starts slipped from 105 to 87 in 2012; however, twin-home construction, which is part of those numbers, doubled from the previous year. Total construction permits increased by 6 percent as well, while remodeling projects remained fairly steady.
Multi-family numbers continue an upward trend since 2010: total construction value increased nearly 45 percent over 2011 and total number of permits went up 37 percent.
HBA President Darrick Guthmiller, Kochmann Brothers Homes, Inc., said, “This is the best overall year-end permit report that we have seen since before 2008, when the nation began experiencing its economic troubles and the F-M area was seeing repeated flooding issues. Our total housing starts are back up to 2006-2007 levels, reflecting the great opportunities we have by living in stable communities and taking advantage of low interest rates. In fact, our Home & Garden Show is sold out and enthusiasm is high for another great building season.”
He pointed out that our community is doing well, but it could be doing much better, “It is time to act to provide permanent flood protection that allows our community to grow and create jobs. Just because it’s drier this year doesn’t mean permanent flood protection isn’t needed. It is not just a yearly goal. A long-term plan is needed.”
Each quarter, the HBA compiles the building permits from Dilworth, Fargo, Moorhead and West Fargo into a uniform report for the industry’s and media’s use. It includes summaries for each city, types of construction, valuations and comparisons to the past four years, as well as comparisons to five-year and 20-year averages.
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. In addition to the Home & Garden Show, its public events include the Spring Parade of Homes, Fall Parade of Homes, Fall Home Show and Remodeled Home Tour. For more information, visit www.hbafm.com.