Minnesota Homebuilders Optimistic For 2017, But Discouraged By Land, Building Expenses

Minnesota homebuilders expect home sale prices and single-family construction will increase in 2017, but are discouraged by the current prices of land and building materials. According to a conditions index based on a semi-annual survey of 35 industry-leading builders in the Twin Cities, the index reflecting new single-family construction was 61, down from 63 in June of 2016, but still a high expectation. The index for the expected change in the sale price per square foot increased from 69 to 72. The conditions index ranges between 0 and 100. Any number above 50 shows optimism. The survey was taken by the Builders Association of the Twin Cities and Shenehon Center for Real Estate at the University St. Thomas.


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