Housing Industry News Vol. 5 Issue 3 - June 2021 by Housing First Minnesota

VOL. 5 ISSUE 3, JUN. 2021

THE MINNESOTA HOUSING INDUSTRY NEWS SOURCE BY HOUSING FIRST MINNESOTA • HOUSINGINDUSTRYNEWS.ORG

Lumber prices reach new high in May, fall fast in June

CONTINUED >> PAGE 6

Electrical Code challenge awaits decision PAGE 4

Mid-year economic outlook shows strength PAGE 6

Zillow: Zoning changes the most effective path to boosting housing supply MDH's rule would replace the EPA's rule in Minnesota.

PAGE 7

Department of Health dusts off lead paint proposal after two years Housing groups gain engagement opportunity for industry For remodelers, a sign that the industry impacts of the COVID-19 pandemic are waning emerged when health officials in the state began working on the lead paint rule again. After two years with no update on Minnesota’s move to take local custody of the U.S. Environmental Protection Agency’s (EPA) Lead Renovation, Repair and Painting (RRP) Rule, the Minnesota Department of Health (MDH) issued a new draft in May and seeks to publish the final rule this summer. Under the proposal, MDH’s rule would replace the EPA’s rule in Minnesota, and MDH

would be responsible for enforcement of the rule as well as establishing standards for lead certification in the state. Any remodeler or exterior contractor working on pre-1978 homes would be affected by this rule. Unlike other Minnesota-specific housing regulations, MDH must draft a rule that satisfies the EPA in addition to satisfying the state’s rulemaking process. Industry pushes for engagement Industry leaders are unhappy with the level of public engagement from MDH on the RRP proposal. The last stakeholder

2960 Centre Pointe Drive Roseville, MN 55113 HousingFirstMN.org

What goes up, must come down? At least many hope, as lumber prices reached a record high of $1,711 per thousand board feet in May. According to the National Association of Home Builders, lumber prices have skyrocketed by more than 300% since April 2020, adding nearly $36,000 to the price of a new single-family home. This cost increase is stacked on top of higher labor costs, sky high land prices and the already costly zoning and regulatory environment builders were dealing with before lumber costs piggybacked on the already elevated housing affordability crisis in Minnesota. The sky-high lumber prices are showing signs of coming back down to earth. So far in June prices posted their biggest weekly drop ever and continued to decline falling nearly 41% from the record peak in May. However, lumber prices are still sitting 175% higher than they were this past year. While a sudden skyrocket in demand and a stall in lumber production due to the pandemic is the cause of much of the price increases, the U.S. tariffs on Canadian softwood lumber have exacerbated the problem. Housing First Minnesota and members reached out to Minnesota members of Congress to encourage lawmakers to reduce the current tariffs on lumber back in May. “The homebuilding industry in Minnesota has been a bright spot in Minnesota’s recovering

INSIDE THIS ISSUE

meeting on the topic was in August 2017, and since December 2017, updates from MDH have been few and far between. “Before the pandemic, updates generally only came when we asked for them,” said Nick Erickson, director of research and regulatory affairs for Housing First Minnesota. In a letter to MDH sent in May, leadership from Minnesota Realtors®, Housing First Minnesota and the Central Minnesota Builders Association called for MDH to engage with stakeholders on the topic. These organizations asked MDH for a public meeting on the topic to provide a detailed list of differences between the EPA rule and MDH’s proposal, an explanation of why direct adoption of the EPA rule is not possible, an overview of the enforcement plan and a copy of MDH’s cost analysis for the latest draft. In June, MDH said it will hold a stakeholder meeting virtually this summer. Deviations from EPA RRP Rule Housing First Minnesota's preliminary assessment of

the latest version of the rule shows improvements, but there are several key differences between the existing rule and the MDH proposal, according to Erickson. “MDH has shifted from a lead abatement approach to the lead mediation that is closer to the intent of the RRP Rule,” said Erickson. “However, there are still needless deviations from the EPA rule presented by MDH, and none provide any safety improvements.” Under the proposal, lead contractor certification would be valid for two years, not the five years that exists today under the EPA rule. MDH’s proposal also includes several paperwork and record-keeping requirements that are not found in the EPA rule. MDH’s proposal would require the recleaning of an entire project, not just areas or rooms that failed the cleaning verification test. In a letter sent in June, David Siegel, executive director of Housing First Minnesota, reiterated the industry’s request for engagement from MDH and for MDH to address the noted CONTINUED >> PAGE 4

HOUSING INDUSTRY NEWS

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PRESIDENT’S NOTE

The housing conversation continues It’s an incredibly interesting and important time to be working in the housing industry. Demand for housing is surging while the industry strives to serve the market amid a host of challenges. Lumber, Oriented Strand Board and other material prices have surged to prices previously unseen. Permitting and regulatory timelines and their related costs have grown more challenging over the past year. At the State Capitol, there have been positive steps forward to reimagine housing, but this progress has shared the housing policy discussion docket with problematic proposals to create new impact fees for transportation and special park fee authority, among others. Where the industry is looking to lower costs, local government groups are pressing for authority to increase housing costs. The challenges facing our industry are complex, but they can be solved if state leaders and all stakeholders come to the table with

HOUSING INDUSTRY NEWS April 2021, Volume 5, Issue 3

fresh ideas and a focus upon creating a better housing market for Minnesotans. Fixing our material pricing issues will take time, and it will require innovative approaches and careful coordination between builders and suppliers. The permitting delays and regulatory roadblocks raise costs and increase inefficiencies that must be addressed by local governments and the legislature. As we move into summer, the housing industry will be as busy as we’ve been in two decades, but we must remain focused on the big-picture challenges that will continue to impact our industry and homeowners throughout Minnesota. The housing conversation continues.

PUBLISHER David Siegel David@HousingFirstMN.org EDITOR Katie Elfstrom Katie@HousingFirstMN.org GRAPHIC DESIGN Emily Doheny ACCOUNTING Janice Meyer ADVERTISING SALES Brad Meewes Kori Meewes CONTRIBUTING WRITERS Katie Elfstrom Todd Polifka 2021 President, Housing First Minnesota

Katie@HousingFirstMN.org

Nick Erickson

Onward, Todd Polifka

Nick@HousingFirstMN.org

Mark Foster

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Kristen Ober

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Kate Wigley Kate@HousingFirstMN.org

David Siegel

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James Vagle

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Housing Industry News is a publication of Housing First Minnesota. Housing Industry News is published and distributed six times per year to housing industry professionals and others associated with the homebuilding industry. Neither the advertisers, nor Housing First Minnesota, will be responsible or liable for misinformation, misprints, typographical errors, etc., herein contained. For address change information, contact Housing First Minnesota. Suggestions, ideas and letters are welcome. HOUSING INDUSTRY NEWS 2960 Centre Pointe Drive Roseville, MN 55113 info@housingfirstmn.org www.HousingFirstMN.org Housing Industry News is published by Housing First Minnesota Entire contents copyright 2021 All rights reserved

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THE HOUSING BEAT

Across the country, there is much talk about housing HERE ARE SOME OF THE LATEST QUOTES ON THE STATE OF THE INDUSTRY:

Discriminatory regulations contribute to a cataclysmic crisis by artificially inflating the cost of homes and limiting the supply of affordable housing. That’s not the free market at work.”

My hope would be that over time, housing builders can react to this demand and come up with more supply, and workers will come back to work in that industry.”

RICHARD KAHLENBERG THE CENTURY FOUNDATION

JEROME POWELL FEDERAL RESERVE

Soaring home prices can be an opportunity to take on the entrenched interests that make it so difficult to roll back land-use, zoning and permit-related regulations, freeing up land and making it easier and less costly to build houses. More houses mean lower prices." MICHAEL R. STRAIN BLOOMBERG OPINION

It’s creating a greater divide between the haves and have-nots. Homeowners are getting sizable wealth gain. Renters are getting left out.”

Zoning has traditionally been under the control of local governments. It's the quintessential local issue. This arrangement allows for sensitivity to community tastes, but also creates a misalignment of costs and benefits.” RAMESH PONNURU BLOOMBERG OPINION

…the Metropolitan Council's urban growth boundary has artificially constrained the supply of land available for development (land constraints are the greatest future threat to affordability, as seen in many coastal metropolitan areas around the country)."

LAWRENCE YUN NATIONAL ASSOCIATION OF REALTORS®

PAUL HEUER DIRECTOR OF LAND PLANNING & ENTITLEMENT MN DIVISION AT PULTE HOMES

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REGULATORY AFFAIRS CONTINUED FROM PAGE 1

Department of Health dusts off lead paint proposal after two years differences between the EPA rule and the latest MDH proposal. “Enacting a rule that is too onerous and costly could substantially impact the availability of naturally occurring affordable housing in areas where homes were built before 1978,” wrote Siegel.

Next steps MDH intends to publish their lead paint proposal this summer after it finalizes the rule. Check the next issue of Housing Industry News for more information.

MDH intends to publish a new RRP rule this summer.

Plumbing Code update, Minnesota Pollution Control Agency waste diversion update, Environmental Quality Board proposal Plumbing Code update At a May 14 special meeting, the Minnesota Plumbing Board made minor technical corrections to the next Minnesota Plumbing Code. The Minnesota Board of Plumbing is looking to release the new Minnesota Plumbing Code books this summer. The new code, approved earlier this year, will go into effect on Dec. 17. MPCA construction waste diversion The Minnesota Pollution Control Agency (MPCA) continues to work on its dual-track construction and demolition waste program. In mid-April the agency met with representatives of the commercial and residential construction segments, seeking to learn more about reuse opportunities for materials within renovated homes and which materials can be diverted from landfills. “There seems to be a knowledge gap between what the MPCA wants to happen and what is possible,” said Nick Erickson, director of research and regulatory affairs for Housing First Minnesota. “There is simply not the market nor consumer demand for the reuse of construction waste in either new home construction or home renovation and remodeling.”

EAW/EIS comment report The Minnesota Environmental Quality Board (EQB) released comments received regarding its Environmental Assessment Worksheet/Environmental Impact Statement (EAW/EIS) proposal issued in December 2020. Housing First Minnesota and the Central Minnesota Builders Association (CMBA) both submitted comments on behalf of the housing industry. Representatives of both groups met with the EQB technical staff in March to voice concerns over the proposal. The draft EQB proposal would create a backdoor regulation for climate change offsets without proposing an actual standard or regulation. Housing First Minnesota and CMBA told the EQB their membership was concerned that this proposal allows local government to demand carbon emission offsets for new developments. In its comments, Housing First Minnesota stated it was concerned that the EQB was unaware of Minnesota homebuilders’ status as the nation’s leaders in energy-efficient onstruction. Further, the Association expressed concern regarding the Agencies' general lack of knowledge of the subdivision process. The next draft of the proposal will be issued this summer.

Electrical Code challenge awaits Court of Appeals decision The Minnesota Court of Appeals held oral arguments on April 29 in Housing First Minnesota v. Board of Electricity which challenges the process used by the Board of Electricity to adopt the 2020 National Electrical Code (NEC). Housing First Minnesota appealed a November 2020 ruling by Administrative Law Judge Barbara Case that the Board of Electricity followed Minnesota’s Statement of Need and Reasonableness (SONAR) requirement when it adopted the 2020 NEC, without amendments, in 2020. Courtney Ernston of Minnesota Construction Law Services represented Housing First Minnesota and outlined to the three-judge panel that the challenge is to the adoption of the 2020 NEC as a whole, as the challenge is on procedural grounds. Ernston noted that the Board of Electricity must review the NEC pursuant to the rulemaking requirement under MN State Statutes Chapter 14 and that any national model code review is not a substitute for its statutory requirements. Judge Kevin Ross asked Ernston about how much time is needed during the technical review to please stakeholders. Ernston replied that the challenge isn’t about the time of a certain level of review, but the quality and substance of any review. Assistant Attorney General Chris Kaisershot, representing the Minnesota Board of Electricity, focused his arguments defending the process used by the Board. Kaisershot

HOUSING INDUSTRY NEWS

took issue with the statements by Ernston and Housing First Minnesota that the Board “rubber stamps” the NEC. As evidence of the review, Kaisershot noted, staff from the Department of Labor and Industry participated in the model code review organized by the National Fire Protection Association, the publisher of the NEC. Ross asked the Board’s attorney what the process is, not just for participation, but for meaningful participation. Kaisershot replied that there was not meaningful prejudice to prevent the public from participating. By participating in the process, Kaisershot said, Housing First Minnesota’s challenge fails to show they were deprived the opportunity to participate. Kaisershot asked that the rule be declared valid. A harmless error, he noted in closing, is not cause for dismissal. In rebuttal, Ernston said that if the court sides with Board, a published opinion would have dramatic consequences on the entire rulemaking process, meaning that the minimal steps taken by the Board would be found as sufficient for a new building code or state rule. The Board has failed to fulfill its statutory obligations since taking over rulemaking of the electrical code since 2002, Ernston closed. One thing both sides agreed on was that this challenge is about the process used by the Board of Electricity, not the substance of the provisions adopted. An opinion will be issued within 90 days of the hearing.

Housing First Minnesota v. Board of Electricity challenges the process used by the Board of Electricity to adopt the 2020 National Electrical Code (NEC).

Breaking down the latest COVID regulations In Minnesota and across the country the COVID-19 numbers have improved dramatically. With this comes new COIVD-19 requirements and recommendations for Minnesotans. On May 6, Gov. Tim Walz announced a timeline for the relaxation of COVID-19-related regulations in Minnesota. Local government entities and businesses can still establish their own COVID-19 mandates and policies. Be sure to check with the communities in which you are operating for any local requirements. Follow any posted COVID-19 requirements at workplaces and other businesses. Here are the important requirements and dates of which Minnesota contractors need to be aware: • Effective May 28, all sector-specific COVID-19 requirements for the construction industry ended. • Effective midnight on May 28, all businesses and places of public accommodation are subject only to the more limited requirements in the COVID-19 Universal Guidance for All Businesses and Entities. Are masks required? Masks are no longer required except in schools, child-care settings, public transportation, at the request of the businesses or where local mandates exist. The Minnesota Department of Health and the Centers for Disease Control and Prevention

This new plan requires the following for all businesses: • Contact tracing is still required. • Employees feeling ill or having tested positive for COVID-19 must stay home. • Provide instruction, signage, facilities and supplies to encourage regular hand washing and sanitizing. • Establish and follow a regular cleaning schedule and use the EPA List N for products that meet the criteria for disinfectants. • Maintain proper building ventilation. These guidelines will be required until June 30, 2021, or until 70% of Minnesotans age 16+ receive at least one dose of a COVID-19 vaccine, whichever occurs first. The entire document can be found at https://staysafe.mn.gov/.

strongly recommend that anyone who is not fully vaccinated continue to wear masks. Other requirements According to Executive Order 21-21, businesses must develop and implement a COVID-19 preparedness plan. Management responsible for the implementation must sign and certify the plan and affirm a commitment to proper implementation. The plan must be provided in writing to all workers and be posted somewhere where it can be reviewed by onsite staff. An online copy of the plan can be made available if on-site posting is impossible or impractical. Employees must be trained on how to follow their site’s COVID preparedness plan. Supervision may be necessary to ensure the plan is being followed and implemented as directed.

OSHA releases top 10 most frequently cited standards from 2020 The Occupational Safety and Health Administration (OSHA) has announced its list of the top 10 most frequently violated safety standards on work sites. This list is across multiple sectors and is not specific to construction. These standards set by OSHA aim to control variables at job sites that pose potential occupational hazards to workers’ safety and health. These controls are meant to be precautionary to avoid an incident rather than reactive to an incident. OSHA publishes this list

annually for employers and work site managers to understand the most common workplace hazards and the appropriate steps that can be taken to prevent them. For the 10th year in a row, the “Fall Protection – General Requirements” directive was the most frequently violated on job sites. Also of note, the "Respiratory Protection” standard jumped to the third-most cited, as many OSHA inspectors focused on N95 and other respirators in response to the COVID-19 pandemic.

The full list and recorded number of cited violations throughout the year: 1. Fall Protection – General Requirements: 5,424 2. Hazard Communication: 3,199 3. Respiratory Protection: 2,649 4. Scaffolding: 2,538 5. Ladders: 2,129 6. Lockout/Tagout: 2,065

7. Powered Industrial Trucks: 1,932 8. Fall Protection – Training Requirements: 1,621 9. Personal Protective and Life Saving Equipment – Eye and Face Protection: 1,369 10. Machine Guarding: 1,313

For more information on these standards and how to prevent violations on job sites visit OSHA.gov

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HOUSING ON THE HILL CONTINUED FROM PAGE 1

Lumber prices reach new high in May, fall fast in June economy. Homebuilders and remodelers across the state continue to produce safe and durable homes at a time that the idea of 'home' means more than ever. However, our industry needs an intervention to help combat this concern,” said Housing First Minnesota in its letter to Congress. In the meantime, an increase in lumber production will continue to provide some price relief. Sunny Bowman, president and owner of Dakota County Lumber Company, says the price drops will take time to come down the supply pipeline. “The drop in futures stems from a slight decrease in demand, but there is still a lot of expensive lumber in the market that needs to be sold until we

will see prices impacted,” said Bowman. “The market is banking on demand dropping as people have other things to spend their money on. It seems like prices will drop for dimensional lumber, but still Oriented Strand Board (OSB) is still increasing. I don’t know when that will go down, as there are so many other actors that impact OSB.” Experts predict that higher lumber prices could be the new normal. Many expect prices to remain higher than historic averages as strong demand for lumber will continue for several years to come. “Overall, I don’t know if the turning of the lumber market will bring down the cost of the housing projects by the end of the year,” said Bowman.

“The drop in futures stems from a slight decrease in demand, but there is still a lot of expensive lumber in the market that needs to be sold until we will see prices impacted.” Sunny Bowman Dakota County Lumber Company Random lengths framing lumber composite prices Nov. 2020 through June 2021.

SOURCE: NAHB

Mid-year economic outlook shows strength, with a few questions The U.S. economy is holding strong following the economic shock and uncertainty related to the COVID-19 pandemic. At its mid-May meeting, the Federal Reserve Bank Open Market Committee (FOMC) meeting predicted that the U.S. economy is likely to grow at 6.5% in 2021 and 3.3% in 2022. The 2021 growth rate is substantially higher than annualized growth over the past decade, and when paired with loose economic policies from the Federal Reserve, has stabilized the U.S. economy from the concerns regarding a long-term economic recession. On the employment front, U.S. unemployment fell to 5.8% according to the U.S. Department of Labor. In Minnesota,

the latest unemployment rate checked in at 4.1%. The construction industry employment picture has improved steadily over the last year, with a drop from the spring high of 14.1% unemployment to roughly half of that number, 7.4% in May 2021. The national labor picture for housing shows a mixed performance over the spring months, but over one million residential construction jobs have been added over the past 12 months across the U.S. Housing economy The National Association of Home Builders (NAHB) spending index shows that total private residential construction spending rose 1% in April and

FOMC predicted that the U.S. economy is likely to grow at 6.5% in 2021 and 3.3% in 2022.

HOUSING INDUSTRY NEWS

rose 29.7% over the past year. The seasonally adjusted annual rate checked in at just over $729 billion. Builder confidence, also measured by NAHB in the Housing Market Index (HMI), has shown strong readings throughout 2021. The primary confidence driver is the steady stream of buyer demand across the country and across buyer segments. The challenge on the horizon continues to be construction material shortages, delays and price surges. These are impacting home prices, on top of the regulatory costs that preceded this crisis. Economic questions linger Two major items on the economic watch list will be the new jobs report and monthly inflation measures. For the past two months, the jobs report has failed to meet projections, confounding some economists. The inflation watch continues as some observers have raised concerns on the heels of May data which showed that consumer prices rose 5% year over year in May, the fastest pace since August 2008 and higher than Wall Street expectations.

White House looks to eliminate exclusionary zoning at the local level.

Biden offering carrot to local governments, will it work? In an effort to eliminate exclusionary zoning policies at the city and county levels, President Joe Biden recently proposed a $5 billion program to give grants and tax credits to local governments that do just that. The program has been proposed as a portion of the $2 trillion infrastructure plan that the administration is putting forward. “The result of this sort of investment will be critical to increasing housing options for low- and moderate-income families,” said U.S. Housing and Urban Development Secretary Marcia Fudge.

However, critics state that incentivizing local governments to do the right thing may not be enough. “In addition to carrots, you need sticks for more affluent jurisdictions,” said Richard Kahlenberg, a senior fellow at The Century Foundation, a progressive New York City-based think tank. Specifics on how a jurisdiction would qualify and what policies the administration would consider exclusionary have yet to be released. Congress is currently debating the larger infrastructure plan with an expected vote later this summer.

Zillow experts: Zoning changes the most effective path to boosting housing supply Zillow recently released its Home Price Expectations Survey, which showed its most optimistic home price forecast in the history of the survey, which began in 2010. The other major finding from the survey was a strong consensus from the panelists that they expect new construction to slow in the coming years due to the high costs of construction. The panel cited the relaxing of zoning restrictions as the most productive way to increase housing supply and better balance the market as a whole. The impacts of a slowing new-home market would be substantial. According to Zillow Research, experts project that on the current path, fewer of today’s 30-somethings will be homeowners when compared to previous generations. The Home Price Expectations Survey asks panelists to select three options to increase housing supply, ranking them in order of expected effectiveness. Local perspective The strong concurrence on housing supply tracks closely to the approaches being championed by housing industry groups and a growing caucus of Minnesota legislative leaders. “The survey results confirm our research and understanding of what it will take to address housing supply in Minnesota and across the country,” said James Vagle, vice president of advocacy at Housing First Minnesota. “These issues are challenging for policymakers, but when we consider the homeownership opportunity

costs of maintaining the status quo, it’s clear that zoning, land use and permitting reform has to be at the top of the legislature’s list.” The panel also weighed in on projections for mortgage rates in the near future. Current rates for a 30-year mortgage sit around 3%. The panel projects that those rates increase to 3.45% by the

end of 2021 and continue their ascent through 2022, with a projected year-end of 3.99% next year. The Zillow Home Price Expectations Survey surveyed 109 experts between May 11-25. The survey was conducted by Pulsenomics LLC on behalf of Zillow, Inc.

Legislative push yields action on border city cost disparities Home Builders Association of Fargo-Moorhead, city of Moorhead seek action The city of Moorhead and the Home Builders Association of Fargo-Moorhead (HBA of F-M) turned heads at the State Capitol this year with a bill that could dramatically increase housing affordability in Moorhead and surrounding Minnesota communities. A bill from Sen. Kent Eken (SF 1114) and Reps. Heather Keeler and Paul Marquart (HF 1402) would allow border cities within a recognized enterprise zone to adopt a frost footing depth that is separate from the building code. “A 54-inch footing depth is a proven performance standard in adjacent border cities— same climate, same geography. There is no compromise to housing quality,” according to a fact sheet prepared by the city of Moorhead. The Minnesota Department of Labor and Industry (DLI) testified against the bill. The bill was also opposed by the Builders Association of Minnesota (BAM) and the Association of Minnesota Building Officials. “The Home Builders Association of Fargo-Moorhead represents builders in Minnesota and North Dakota, but just like all of their business neighbors, these builders operate in a housing market and ecosystem that is separated by only a state line,” said Bryce Johnson, CEO of HBA of F-M. “Unfortunately, the Minnesota State Building

Code imposes many discrepancies that hurt home attainability and each state’s overall wellbeing. In order to thrive and improve their own housing market, Minnesota border cities must have a level playing field. Advocating for the frost depth legislation represents HBA of F-M’s commitment to establishing the uniformity that much of the Minnesota code prevents.” In a letter sent to legislators in advance of the hearing on the bill, Grace Kelliher, executive vice president for BAM, called the proposal “arbitrary.” “BAM is unable to support the further fragmentation of the code as patchwork enforcement already disadvantages our licensed contractor members,” said Kelliher in the letter. Nick Erickson, director of research and regulatory affairs for Housing First Minnesota, says the legislation highlights the need for the housing industry and regulators to look into ways to address the state’s high construction and development costs. “Outright dismissal of new and innovative ways to increase affordability has to stop, particularly when it’s for new starter homes,” said Erickson. “Here we have local government and homebuilders working together to tackle the housing issue. We need to foster these partnerships and innovative thinking.”

The bill was heard and passed in both the House and Senate during the 2021 legislative session and was included in the Senate version of the Omnibus Jobs Bill. DLI takes notice The momentum at the Minnesota Legislature has caught the eye of DLI. At its May 27 meeting, the Construction Codes Advisory Council (CCAC) discussed the legislation in its legislative update, allowed HBA of F-M to make a presentation, and formed a technical advisory group (TAG) to study the issue. This TAG is the same process used by DLI for the technical review of the state’s building code. Members of the public and appointees to the TAG can discuss the technical aspects of code changes.

“We need to find meaningful ways to decrease input costs.” Don Dabbert Jr. Dabbert Custom Homes

“We need to find meaningful ways to decrease input costs,” said Don Dabbert Jr., a builder and developer in the

Fargo-Moorhead area with Dabbert Custom Homes, at the CCAC meeting. Dabbert explained that on the Minnesota side of the Red River, construction costs are much higher than in North Dakota. Dabbert also noted that this push is about returning entry-level homes to Minnesota. Construction costs are far lower across the state line. According to Dabbert, the construction cost of a new home in Moorhead is approximately $7,500 more than it is in Fargo due to differences in the state’s building code. The foundation depth issue is $3,000, or nearly half of the cost difference between Moorhead and nearby cities in North Dakota. Wait and see The TAG formed in May takes a different approach than bills at the state legislature. The TAG being formed will evaluate the current minimum allowable footing depth due to freezing contained in the State Building Code for Clay County, not looking across the state where border cities have cost disparities. HBA of F-M said it is happy to participate in the upcoming TAG process but will continue to press a legislative solution to bring starter homes to the Moorhead market.

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MARKET REPORT

Housing market report Minnesota’s housing market heats up going into summer With demand for new homes at levels not seen since 2004, builders are gearing up for a busy summer after an equally robust spring. The Twin Cities metro area recorded a 60% increase in single-family permits in April. However, material shortages, labor problems and regulatory challenges continue to strain homebuilders as they try to keep up with demand for new homes.

State of Minnesota

Moorhead

SOURCE: CITY OF MOORHEAD

10,674

Duluth

Year-to-Date Single-Family Construction Select Cities Through April 2021 SOURCE: U.S. CENSUS

SOURCE: U.S. CENSUS

St. Cloud

SOURCE: CITY OF ST. CLOUD

Twin Cities

8,328

Mankato

SOURCE: U.S. CENSUS

Rochester

107

SOURCE: U.S. CENSUS

SOURCE: U.S. CENSUS. HOUSING FIRST MINNESOTA COLLECTED THE ABOVE PERMIT INFORMATION FROM AVAILABLE PUBLIC RESOURCES.

APRIL 2021

$337,000 +10.5%

$295,000

APRIL 2020

+10.1%

$305,000

APRIL 2020

$267,950

Minnesota Construction Employment Past 5 Months SOURCE: DEED

Y-Y Change

2020

$305,000

$267,950

Twin Cities Median Sales Price

Minnesota Median Sales Price

SOURCE: MINNEAPOLIS REALTORS

SOURCE: MINNESOTA REALTORS

Twin Cities Construction Employment Past 5 Months

United States

South - 87

West - 89

SOURCE: DEED

Midwest - 89

Northeast - 77

Employment Update

SOURCE: NAHB

Minnesota’s unemployment faltered slightly to 4.1% in April, according to the Minnesota Department of Employment and Economic Development (DEED). This is compared to the March unemployment rate of 4.2%.

The Overall Remodeling Market Index is calculated by averaging the Current Marketing Index and the Future Market Indicators Index. Any number over 50 indicates that more remodelers view remodeling market conditions as higher than the previous quarter. Results are seasonally adjusted.

However, the national unemployment rate saw a slight increase from 6.0% in March to 6.1% in April. Construction in Minnesota recorded an 8.3% employment increase, or 9,073 jobs, since April 2020.

Regional Remodeling Market Indices, 2021 Q1

HOUSING INDUSTRY NEWS

Minnesota homes selling at record pace for record prices The median price of a home in the 16-county Twin Cities metro rose to $350,000, a 17% increase from last May and a new record high for the region, according to the Minnesota Realtors®. Statewide the median sales price rose by 15% to $310,000. New listings in May climbed by 5.4% in the Twin Cities and by 0.2% statewide, which will do little to cool off the state’s steaming housing market. The tight supply has homes selling at the fastest pace in at least 14 years, according to Minneapolis Area REALTORS®. “It’s promising to see improvements in housing supply, but it’s clear that we aren’t out of the woods just yet,” said Todd Walker, president of Minneapolis Area REALTORS. “In time, more potential sellers will be encouraged to list, enticed by rising prices and more inventory. In the meantime, developers need incentives to expand new inventory, particularly in affordable price ranges.” Statewide days on market dropped by 37%

to just 29 days, a historic low. Buyers continue to feel the pressure and are pursuing homes with multiple offers. Properties received an average of 4.5% over the original asking price in May, according to the Minnesota Realtors. The statewide inventory of homes shrank to 8,953 homes for sale. “As we anticipated, buyers are very active but there simply isn’t the inventory to meet their demand,” said Chris Galler, CEO of Minnesota Realtors. “This has created a competitive environment where multiple offers are the norm. Although you’d think that would be an incentive for more sellers to list their homes, many are hesitating because they worry about becoming homebuyers in this environment. It’s a cycle that will only be broken by increased inventory or higher interest rates that slow demand.” Total months’ supply of homes for sale remains historically low at 1.1 months statewide and .9 months in the Twin Cities.

TWIN CITIES MEDIAN SALES PRICE (MAY)

MINNESOTA MEDIAN SALES PRICE (MAY)

2020: 300,000

2020: $268,000

2021: 350,000

2021: $310,000

+16.7%

+15.7% Statewide inventory of homes shrank to 8,953 homes for sale in May.

HOUSING INDUSTRY NEWS

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MARKET REPORT

Mortgage rates drop in June The housing market exploded over the past year with demand from prospective homebuyers who were looking to lock in some of the lowest interest rates of the decade. Likewise, many existing homeowners refinanced their mortgages under these new rates. The Federal Reserve decided to bring interest rates down to preempt some of the downturns it feared for the economy during the pandemic. As many buyers rushed into the market, the inventory of available homes was not able to keep pace. According to the Minneapolis Area REALTORS®, the inventory of homes for sale in April 2021 was about 46% less than the year prior. Earlier this spring, interest rates started to rise. Freddie Mac reported that a 30-year mortgage rate reached a post-COVID-19 high at 3.17% in late March. Many saw these increased rates as a pressure

release on the strained market. However, rates have started to drop again. In June the 30-year mortgage rate dropped to 2.99%, according to Freddie Mac. Yet, even with these rates dropping once again, buyers are not as quick to rush into the market. Many potential buyers over the last year have been left frustrated as bidding wars and competition with offers well over the asking price have left them with no success. As a result, some buyers are hitting pause on their home search and, in turn, the inflamed housing market may be headed for a cool-down. According to the Mortgage Bankers Association, mortgage application demand at the end of May fell 4% to the lowest level since February 2020. Additionally, pending home sales fell 4.4% in April, according to the National Association of REALTORS®.

In Northern Minnesota the housing market is seeing an inﬂux of buyers taking advantage of workplace ﬂexibility with a second home or cabin.

Inventory shortage not unique to Twin Cities Concerns about inventory shortages and rising prices are not unique to the Twin Cities housing market. These issues are presenting in markets across the state as homebuyers statewide are looking to get into the market when interest rates are still low and many have more flexibility in where they live in relation to where they work. In Central Minnesota, the housing market, like other areas of the state, is mirroring much of what is happening in the metro area. According to the St. Cloud Association of REALTORS®, listings of homes for sale in March 2021 had decreased about 62% compared to the year prior. Subsequently, the median sales price has increased 14% during the same time frame. Builders in Central Minnesota also report concerns over rising material costs

Source: Freddie Mac

and labor shortages. Nevertheless, the demand for new homes pushes. According to building permit reports from the city of St. Cloud, single-family home permits remain at an overall consistent pace since the beginning of the year. The city of Moorhead has also reported a growth pace of permits for new single-family homes. Since the beginning of the year, the city has issued 25 single-family permits. This is compared to 20 permits pulled during the same months last year. In Northern Minnesota, the housing market is seeing an influx of buyers looking to utilize their newfound flexibility working from home with a second home away from the metro area. Minnesota Realtors® reported closed sales increased 39% in Grand Marais and 132% in Lutsen in 2020 compared to 2019.

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HOUSING INDUSTRY NEWS

As demand for renovations reaches new heights, remodelers grow more optimistic With so few homes for sale in the market, many homebuyers are either stuck in their current home or forced to buy a home that isn’t exactly what they wanted. This has led to demand for remodeling to a new “all-time high,” according to the National Kitchen & Bath Association (NKBA) and John Burn Real Estate Consulting. NKBA and John Burns report that the Q1 Kitchen & Bath Market Index (KBMI) soared to a rating of 79.8, its highest score since the inception of the index. The rating marks an increase of 14.8 points from the previous quarter and a 38.8-point improvement from the same time in 2020. Scores above 50 indicate

expansion and scores below 50 indicate contraction. “As consumers experience more flexibility in their working arrangements, there’s an increased need for total reconfigurations for their spaces,” added Todd Tomalak, principal of John Burns Real Estate Consulting. “And from an economic perspective, we’ve seen Americans utilizing their stimulus checks and savings from canceled vacations or other activities—which have been largely paused for the last year—for these home-improvement projects.” It comes as no surprise with the increased demand for renovations that remodelers are growing increasingly optimistic. The National Association

“As consumers experience more flexibility in their working arrangements, there’s an increased need for total reconfigurations for their spaces.” Todd Tomalak John Burns Real Estate Consulting

of Home Builders (NAHB) reported that its Remodeling Market Index (RMI), which measures residential remodelers’ confidence in their market, posted a reading of 86 in the first quarter of 2021. That is a 38-point increase over the first quarter of 2020. Robert Dietz, NAHB chief economist, notes that the increase shows a strong recovery and overall optimism, but that it’s not all sunshine and clear skies ahead. “Activity should continue to grow into 2021 as the economy accelerates with an easing of the pandemic,” said Dietz. “However, material availability and prices continue to be a challenge for remodelers and their customers.” NKBA reports that the primary obstacle for members is sourcing affordable materials, along with delays and price hikes. With the surge in remodeling demand, 67% of building and construction firms report a backlog of three months or more, and, of that, 21% have a backlog extending through 2021.

Demand for remodeling reaches a new “all-time high,” according to the National Kitchen & Bath Association (NKBA) and John Burn Real Estate Consulting.

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HOUSING INDUSTRY NEWS

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INDUSTRY IN ACTION

Back to your regularly scheduled home tour Artisan Home Tour features 30 exceptional homes in 2021 Following a year where home tours went virtual, shrunk down and limited attendance due to the global pandemic, the 2021 Artisan Home Tour is back at full strength. This year’s ticketed, high-end home tour featured 22 new homes and eight remodeled homes located all across the Twin Cities metro. Despite concerns that

the lingering effects of COVID-19 would put a damper on attendance, this year's visits returned to the strong numbers seen in tours prior to 2020. Trends featured in this year’s tour include more modern, minimalist styles; embracing European influences; new takes on the ever-popular farmhouse trend and classic, stately styles.

Sustainable 9 Design + Build's modern Minneapolis triplex.

Twenty-two new homes and eight remodeled homes were featured in the 2021 Artisan Home Tour.

Butler's pantry of home #4 on the tour by John Kraemer & Sons.

Staircase view of home #22 on the tour by Custom One Homes.

Good news

– you were deemed essential in 2020. Housing First Minnesota has known that for over 80 years.

Now let us be essential for your business. Housing First Minnesota is the glue that binds our industry together, making it possible for builders, remodelers, and suppliers throughout the state to achieve greater success. Join us as we bring the housing industry together to advocate for housing and homeownership, make connections, and provide exclusive marketing opportunities to reach your target audience. Helping you succeed is what we do.

Join Today and Elevate Your Business | HousingFirstMN.org

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HOUSING INDUSTRY NEWS

Housing industry networking events have returned Housing First Minnesota held one of its first large networking events since the pandemic started. Members of Housing First Minnesota gathered in June for the Member Bash, the association’s annual membership appreciation event. For some, this was the first time gathering as an industry since the pandemic shut down the majority of events in the state in 2020. The industry event was just the first of many upcoming gatherings as the association gears up for events to come roaring back in 2021.

"The housing industry is a very close-knit community. We're excited to get back to having face-to-face celebrations where we can reconnect with old industry friends and make new connections. This industry thrives off the strong relationships within it." David Siegel Housing First Minnesota Members of Housing First Minnesota gathered in June for the Member Bash, the ﬁrst of many upcoming association gatherings.

HOUSING INDUSTRY NEWS

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INDUSTRY GIVES BACK

Minnesota construction industry sees strong benefit in Association Health Plan Housing First Minnesota collaboration with North Risk Partners and Blue Cross and Blue Shield enters second year Avivo's renovated housing options give mother's like Tawney a better chance at recovery.

Housing First Minnesota’s Association Health Plan (AHP) underwritten by Blue Cross and Blue Shield and managed in cooperation with Minnesota-based insurance firm North Risk Partners has entered its second year, and enrollment in the plan is now available now. The innovative AHP has seen substantial growth for the plan since its inception just one year ago. “The AHP is off to a great start with continued interest and enrollment across the association’s member companies,” said Gary Helm, risk advisor and association benefits leader at North Risk Partners. The AHP is underwritten and fully insured by Blue Cross and Blue Shield of Minnesota (Blue Cross) and managed by North Risk Partners. Housing First Minnesota member companies have eight plan options and two network options for consideration, as well as an option for a Housing First Minnesota-endorsed ancillary benefits program through MetLife. “We have more than 45 different insurance agencies quoting the Housing First Minnesota health plan and that number continues to increase,” said

Casey Schultz, small group business consultant with Blue Cross. “It’s exciting to see the plan’s success and the positive impact that it is having on the association and its members.” The AHP is available to active Housing First Minnesota member builders, remodelers, and supplier companies primarily and directly engaged in the construction industry. Eligibility requirements and plan details can be found at housingfirstmn.org. “Housing First Minnesota’s AHP has been successful because it often provides lower out-of-pocket maximums and better, lower-cost network options than small group filed products,” explained Helm. Any eligible employers signing onto the plan that have health plan effective dates starting Oct. 1, 2021– Jan. 1, 2022, will have their rates locked in until Jan. 2023 with the association’s plan. Rates for 2022 will be released in July 2021. Employers who wish to receive a proposal should contact a Blue Cross or North Risk Partners representative. A Housing First Minnesota membership is not required to receive a quote, however it is required to enroll in the plan.

Blue Cross® and Blue Shield® of Minnesota and Blue Plus® are nonprofit independent licensees of the Blue Cross and Blue Shield Association. North Risk Partners is an independent insurance firm specializing in strategic insurance solutions for people and businesses in the Midwest. The firm’s core areas of service include commercial insurance, bonds, employee benefits and personal insurance. North Risk Partners is committed to a mission of service and helping its clients Face Risk Head On. Learn more at northriskpartners.com.

Renovations help Avivo continue to house women in recovery In 2018, the Housing First Minnesota Foundation and its build partners renovated Avivo’s family recovery housing that provides eight apartments for mothers and their families while working on recovery. These homes have been critical to women working on recovery and increasing the wellness of the entire family, and the Housing First Minnesota Foundation is currently working on six additional units. Lack of family housing is a barrier to recovery. Avivo serves individuals coming out of homelessness, abuse and extreme poverty who are taking steps to lasting sobriety. For mothers like Tawny, Avivo’s housing was key to being reunited with her children. Tawny’s childhood was plagued by her parents’ drinking. Her family was constantly moving, never staying in one place. By the time she was a teenager and had decided to move in with her boyfriend, Tawny had experienced numerous traumatic events. It was also the first time she tried drugs. That started years of relapses, living on the streets and jail time. She was in the workhouse and pregnant with her youngest of four when she connected with Avivo. “At Avivo you have family housing, [treatment] and childcare,” shared Tawny. “Avivo helped me get my kids back. I want to create a life I enjoy living, and for my kids to be able to trust me and know that I am here to stay.” Tawny graduated from Avivo’s family outpatient treatment program and is living in her own

apartment with her children. She hopes to enter training and find the right job for her family. “Having a safe and healthy place to live while doing the hard work of recovery gives women the support they need to succeed,” said Kelly Matter, Avivo’s president & CEO. “We are so grateful for the Foundation and their build partners’ support. It’s a gift that keeps giving year after year and for decades to come.” Since the 2018 renovation of Avivo’s family recovery housing building, 33 mothers and their families have experienced places to call home. They found stability and the opportunity for the whole family to recover together, in order to take their next best steps for health and advancement. Housing First Minnesota Foundation supporters understand that housing is the key to ending homelessness. "An investment in people and the community allows individuals and families struggling with financial hardships, substance abuse, mental health crisis or other barriers a chance to hit the reset button to begin rebuilding their lives," said Donnie Brown, Housing First Minnesota Foundation director. This year, the Housing First Minnesota Foundation joined forces with three builder partners, The Kingdom Builders, Plekkenpol Builders and John Kraemer & Sons, to renovate six additional one-bedroom units for Avivo. Some units will be converted into two-bedroom apartments to serve larger families. There are four additional apartments in need of an update.

Visit HousingFirstMNFoundation.org to make a donation or become a build partner.

Real Estate Law at Every Level Larkin Hoffman has been a go-to real estate law firm for more than six decades. We provide a comprehensive range of services including financing, tax increment financing, acquisitions and dispositions, construction, development, land use, environmental regulation, property conversions and redevelopment, leasing, renewals, eminent domain and inverse condemnation, property tax appeals, and litigation. This full-service approach ensures we can address and manage every element of our clients’ real estate matters.

Peter Coyle | pcoyle@larkinhoffman.com | 952-896-3214 14 |

HOUSING INDUSTRY NEWS

IN THE DIRT

A quick recap of housing news and development updates

SOURCE: STATE OF MINNESOTA

SOURCE: MINNEAPOLIS FED

Mask mandates lifted

The Fed reports lack of available labor

Eviction moratorium continues for renters

On June 1, Minneapolis Mayor Jacob Frey signed an emergency regulation that lifted the city’s local mask mandate. Within a few hours, St. Paul Mayor Melvin Carter also lifted the mandate in his city. The announcements come a few weeks after Gov. Walz lifted the statewide mask mandate on May 14. Frey reports that 78.6% of Minneapolis residents over the age of 15 have received at least one dose of the vaccine. “After a thorough review of public health data, Minneapolis is reaching vaccination rates above the recommended threshold for safely lifting this policy,” Frey said.

According to the summary results from the Federal Reserve Bank of Minneapolis’s May construction sector survey, “more than half of the firms reported they were hiring in some capacity, and less than 5% said they were cutting employees. But three-quarters of firms said availability of workers was either very tight (53%) or moderately tight (23%), and that share has risen significantly since the February survey. In response, half of respondents said wages for skilled labor grew by 3% or more since the start of the pandemic, and wage expectations for the coming 12 months were slightly stronger.”

As COVID-19 restrictions ease, Gov. Walz has kept the eviction moratorium in place. The decision comes as both parties wrestle with how to transition away from the executive order signed by Walz in March 2020. Organizations advocating for renters support the continuation of the moratorium, and they say it has been critical to providing stable housing to those in need during the pandemic. Landlords and property owners hope to see the moratorium lifted as soon as possible due to the heavy financial stress on them for the last 13 months. Both the House and Senate have passed bills addressing the eviction moratorium.

STAY INFORMED WITH THE LATEST HOUSING NEWS

SOURCE: STATE OF MINNESOTA

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HOUSING INDUSTRY NEWS

4/2/21 10:42 AM