The Home Builders Association of Fargo-Moorhead released its 2013 year-end building permit report for Dilworth, Fargo, Moorhead and West Fargo during a press conference Feb. 10.
2013 maintained positive trends for the Fargo-Moorhead area building industry for the final quarter, and a triumphant year overall. As evidenced by the HBA of F-M’s year end building permit report, housing starts continue their push toward record highs. Total construction value is over $663 million, which continues the trend of record numbers, and supersedes last year’s record by just under $90 million; it is a 15 percent increase over 2012’s banner year.
Overall, single-family construction value increased by almost a third at 32 percent; this is a substantial jump from 2012’s record high. In fact, with the exception of public permits, all categories experienced an increase in value over 2012. There were 1,175 housing starts overall for the F-M area, up 214 from last year, and 48 multi-family starts, which was a 33 percent increase.
Perhaps most impressively, single-family construction achieved a record number of 935 starts in 2013. While overall housing starts were higher in 2004, those numbers reflected a much higher number of attached housing permits. 2013’s report shows that the market has shifted to a higher percentage of single-family dwellings, and this change helps account for the new high in overall value.
HBA of F-M President Carlita Dietz, Jay Dietz Construction, Inc., says “The home building industry finished 2013 strong, and maintained outstanding production throughout the entire year. We had great expectations for a wonderfully productive year, and we may even have been a bit reserved in those estimates!”
Dietz also noted, “Housing starts were initially slow because of a wet spring and the threat of another flood, but it looks like the numbers rebounded enough to more than make up for that. We need to develop comprehensive and permanent flood protection for the region to make sure that we can eliminate that early-season concern; then, we can focus on building enough homes to meet our ever-increasing demand.”
Click here to access the permit report itself.
Fargo finished the year strong, with 521 total housing starts – an increase of 29 percent from last year. The majority of this growth was in single-family and twin-home construction. Multi-family and commercial starts remained similar to 2012. Through the third quarter, Dilworth had doubled its starts from 2012; it finished the year at that rate, going from 17 to 34 starts, and experienced an increase in residential remodel numbers as well.
While Moorhead hasn’t quite gotten back to the benchmark numbers from 2008, it did finish the year strong. The 46 more total housing starts was a 53 percent increase and a substantial improvement from 2012. City-wide efforts to expand housing aim to ensure those numbers continue on a positive trend. West Fargo finished with 109 additional starts during the fourth quarter, finishing the year with a total of 487 starts, 399 of which were for single family homes. Also, twin home construction in West Fargo increased by 10 percent, although residential remodels dropped by 36 to 264.
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 looks to celebrate another successful building season with a jam-packed Red River Valley Home & Garden Show Feb. 21-23. The annual show features speakers, presentations, numerous displays and a wide variety of construction-themed vendors, and runs 3 – 9 p.m. Friday, Feb. 21; 9 a.m. – 6 p.m. Saturday, Feb. 22; and 11 a.m. – 5 p.m. Sunday, Feb. 23, at the Fargodome. Admission is $8 with two-for-one admission savings 3-5 p.m. Friday and Sunday. Consumers can find a $1-off coupon in the show guide at Hornbacher’s or at www.hbafm.com (coupon not valid during two-for-one hours).
The HBA of F-M promotes an environment in which members and their businesses can prosper. It is a non-profit trade association of nearly 800 members that has been in existence since 1956. Its public events include the Spring Parade of Homes, Fall Parade of Homes, Remodeled Home Tour, Red River Valley Home & Garden Show and Fall Home Show.