Home Builders Association Reports Housing Permit Record - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

Home Builders Association Reports Housing Permit Record

Posted: Updated:

Each quarter the Home Builders Association (HBA) of Fargo-Moorhead compiles permit data for Fargo, West Fargo, Moorhead and Dilworth. On Monday, the organization released the 2013 year-end building permit report showing more record growth in the area.

The Home Builders Association classifies home "starts" as single-family, twin, and row housing. In 2013 HBA reports the highest number of starts since they started keeping record in the 1980's.

Overall housing starts were up by 214, which is the highest since 2005. Single-family homes alone increased by 32% with 935 starts.  Home Builders Association President Carlita Dietz says the late winter and wet spring pushed things back in 2013, but they still managed to build at an amazing rate to make up for that loss.

The break-down for each city is impressive, as well. In Fargo, single-family and twin home starts increased by 29%. Multifamily and commercial building stayed about the same.

West Fargo saw a huge jump in 2012 but continued to grow in 2013 with a 9% increase over the 2012 growth. Dietz says the total value of housing starts is up by $16 million for 2013.

Moorhead continues to grow moderately, and the HBA says they are expecting that to continue. Moorhead saw a 53% increase over 2012. That's 46 more homes than in 2012.

Dilworth saw huge growth in 2013, doubling it's housing starts from 17% in 2012 to 34% in 2013.  Though the HBA only is able to compile data from the four cities listed above, Dietz points out that surrounding communities also continue to grow and offer incentives to new home buyers.

Though the housing market continues to boom, Diezt says challenges face the Fargo-Moorhead market. She notes the biggest challenges are flood insurance mandates and flood protection and says the builders association needs be able to tell families and businesses what areas are safe and protected in order to keep growing.

Dietz says there are many good reasons to buy or build in the Fargo-Moorhead area, including low interest rates and home values that are keeping steady. She also credits the economy, saying the low unemployment rate and plenty of good-paying jobs are attracting people to the area.

Powered by WorldNow
Powered by 

WorldNowAll content © Copyright 2000 - 2014 WorldNow and Valley News Live. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.