Issue 3 | Sept. 6, 2017
Permits Plus + A bi-monthly statistics and advocacy update for HBA of F-M members
as of 7/31/17 | F-M Metro
Sept. 16-17 and 23-24 - Fall Parade of Homes Sept. 23-24 - Remodeled Home Tour
Sept. 26 - Lunch Session: International Builders’ Show: What You Need To Know
CONSTRUCTION ACTIVITY
Total Permits
FOR YOUR CALENDAR:
Miscellaneous 9.5% Public 1% Commercial Remodel 13%
THROUGH JULY
Housing Starts 20%
Sept. 26 - Hard Hat Happy Hour
Residential Remodel 54%
Oct. 17 - Lunch Session: What to Expect From a Roadside Inspection
Multi-Family .5% New Commercial 2%
Total Value
as of 7/31/17 | F-M Metro Miscellaneous Public 4% 4% Commercial Remodel 16%
Oct. 26 - Awards Gala & Annual Meeting
Visit the calendar at hbafm.com for details or to register for events.
New Commercial 30%
1. F-M Metro covering Dilworth, Fargo, Moorhead and West Fargo, including comparisons from the last three years
These two reports are included as inserts in the Permits Plus.
On page two, you will find a permit comparison chart for the F-M Metro, and a housing comparison chart for the F-M metro and outlying towns.
Housing Starts 30%
Residential Remodel 5%
The HBA of F-M produces two monthly building permit reports
2. Outlying towns covering Barnesville and Hawley in Minnesota and Casselton, Harwood, Horace, Kindred, Mapleton and Oxbow for North Dakota. This report was initiated in 2016, so three years of data is not available.
Published six times per year in addition to the Plains Builder, Permits Plus aims to provide a concise report on building permit numbers and a timely update on Association advocacy efforts.
MultiFamily 11%
Outlying Housing Value
Outlying Housing Permits
Metro Housing Value
Housing Percentage Difference 2017-2016
Metro Housing Permits -40%
-20%
0%
20%
40%
60%
80%
100%
HBA OF F-M + 1802 32ND AVE S + FARGO ND 58103 + (701) 232-5846 + HBAFM.COM + INFO@HBAFM.COM
PERMIT COMPARISON F-M METRO
HOUSING STARTS
HOUSING VALUE
TOTAL PERMITS
TOTAL VALUE
City
Jan - July 2017
Dilworth Moorhead Fargo West Fargo Totals Dilworth Moorhead Fargo West Fargo Totals Housing Starts Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Totals Housing Starts Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Totals
5 68 225 204 502 $721,000 $13,736,000 $52,388,991 $46,442,110 $113,288,101 502 10 58 1326 314 15 233 2458 $113,288,101 $41,406,598 $112,989,188 $20,054,950 $57,995,229 $15,982,737 $16,136,309 $377,853,112
Jan - July 2016 14 113 295 265 687 $3,475,900 $22,124,200 $73,931,952 $63,476,983 $163,009,035 687 15 71 1361 313 31 272 2750 $163,009,035 $35,512,655 $97,654,191 $21,412,461 $89,103,297 $67,514,526 $20,959,720 $495,165,885
Difference -9 -45 -70 -61 -185 -$2,754,900 -$8,388,200 -$21,542,961 -$17,034,873 -$49,720,934 -185 -5 -13 -35 1 -16 -39 -292 -$49,720,934 $5,893,943 $15,334,997 -$1,357,511 -$31,108,068 -$51,531,789 $4,823,411 -$4,823,411 -$117,312,773
Percentage Difference -64% -40% -24% -23% -27% -79% -38% -29% -27% -31% -27% -33% -18% -3% 0% -52% -14% -11% -31% 17% 16% -6% -35% -76% 23% -23% -24%
SEE INSERT FOR COMPLETE F-M METRO AND OUTLYING REPORTS
HOUSING COMPARISON F-M METRO AND OUTLYING COMMUNITIES
METRO HOUSING PERMITS
METRO HOUSING VALUE
OUTLYING HOUSING PERMITS
OUTLYING HOUSING VALUE
COMBINED HOUSING STARTS COMBINED HOUSING VALUE
2
Single Family Twin Home Row / Town House Duplex Totals Single Family Twin Home Row / Town House Duplex Totals Single Family Twin Home Row / Town House Duplex Totals Single Family Twin Home Row / Town House Duplex Totals
-132 17 -46 -24 -185 -$40,586,329 $3,939,067 -$9,473,672 -$3,600,000 -$49,720,934 31 -9 0 -1 21 $13,145,475 -$331,000 $0 -$250,000 $12,564,475
Percentage Difference -24% 27% -92% -100% -27% -30% 32% -95% -100% -31% 89% -64% 0% 0% 42% 106% -21% 0% -100% 88%
737
-164
-22%
$177,302,778
-$27,440,854
-15%
Jan - July 2017 419 79 4 0 502 $96,457,101 $16,371,000 $460,000 $0 $113,288,101 66 5 0 0 71 $25,600,218 $1,258,000 $0 $0 $26,858,218
Jan - July 2016 551 62 50 24 687 $137,043,430 $12,431,933 $9,933,672 $3,600,000 $163,009,035 35 14 0 1 50 $12,454,743 $1,589,000 $0 $250,000 $14,293,743
573
$140,146,319
Difference
Permits Plus
SEASONALLY ADJUSTED UNEMPLOYMENT RATES JULY 2017
Minnesota
JUNE 2017
JULY 2016
3.7%
3.9%
2.3%
3.1%
4.4%
4.9%
2.2%
2.9%
Source: bls.gov
3.7%*
North Dakota Source: bls.gov
2.2%*
United States Source: bls.gov
4.3%
Fargo-Moorhead Source: bls.gov
2.1%
*Preliminary
MORTGAGE RATES
Source: Wells Fargo as of Aug. 30, 2017
30-Year Fixed
4.000%
15-Year Fixed
3.250%
30-Year Jumbo
3.875%
30-Year Fixed FHA
4.625%
5-Year ARM
3.625%
SINGLE AND MULTI-FAMILY BUILDING PERMITS July 2017
July 2016
Minnesota
% change
Source: NAHB
13,384
11,464
21%
North Dakota
JAN. 9-11, 2018 | ORLANDO
Source: NAHB
1,826
United States
2,285
-20%
681,660
8%
1,282
-16%
REGISTRATION NOW OPEN! BUILDERSSHOW.COM
Source: NAHB
734,886
Fargo-Moorhead Source: HBA of F-M
1,077
FRAMING LUMBER PRICES Source: National Association of Home Builders
Date
June 23 July 14 Aug. 4
Aug. 25
LOCAL REAL ESTATE
Source: F-M Area Association of Realtors Dilworth, Fargo, Moorhead, West Fargo | Single-Family, Condo, Townhouse, Twin Home, Duplex
Aug. 31 2017 YTD Aug. 31 2016 YTD % change Home Prices $232,484
$227,658
2%
$474,731,972
$449,169,708
6%
Closed MLS Volume
Lumber Composite Price
CME Futures
$411
$367.4
310
408
-24%
$405
$373.9
1,732
1,641
6%
$397 $427
$363
$383.8
Closed MLS - New Construction Units Closed MLS - Existing Residential Units
U.S. REGULAR GASOLINE PRICES
Source: Energy Information Administration
U.S.
Midwest
(DOLLARS PER GALLON)
July 31
Aug. 7
Aug. 14
Aug. 21
Aug. 28
$2.263
$2.267
$2.289
$2.238
$2.299
$2.269
Issue 3 | Sept. 6, 2017
$2.29
$2.301
$2.273
$2.322
3
Home Builders Association of F-M 1802 32nd Ave. S. Fargo, N.D. 58103
Fargo-Moorhead Ranks #28 on National Index
From the National Association of Home Builders: Aug. 7, 2017 - Housing Market Continues to Make Gains, Though Permits Fail to Keep Pace In a further sign that the housing sector is continuing to gain momentum, nearly 300 markets nationwide posted an increase in economic and housing activity from the first quarter to the second quarter, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released today. The LMI measures current home price, permit and employment data to plot the economic health of an individual market. Based on the 337 markets tracked by the index, nationwide markets are now running at an average of 102 percent of normal housing and economic activity. Out of nearly 340 markets nationwide, Grand Forks MSA ranked #10, Bismarck MSA ranked #15 and Fargo MSA ranked #28. MSA stands for metropolitan statistical area. It is a geographical region with a relatively high population density at its core and close economic ties throughout the area. Student internships provide a valuable opportunity for home builders to engage with three talent resources to meet their skilled labor needs: secondary (high school) students in career and technical (CTE) education programs; community college students; and university students. The National Association of Home Builders has resource to help you! Check the home page at www.nahb.org for a link to an NAHB Members guide helping home builders understand work-study student-learning opportunities and how to determine the type of student resource that best fits the company’s needs. The guide focuses on one type of work-study student learning experience: the paid internship.
Permits Plus
4
Home Builders Association of Fargo-Moorhead F-M Metro Building Permit Report 2017 - Year-to-Date (July) 2015
DILWORTH Total Housing Starts Single Family Twin Home Row / Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
Permits
21 17 4 0 0 0 2 33 4 0 7 67
Units
0 0 0
2016 Value Permits
$5,990,850 $5,050,850 $940,000 $0 $0 $0 $120,000 $213,684 $605,000 $0 $15,689 $6,945,223
14 14 0 0 0 0 0 43 1 0 11 69
$28,753,499 $20,647,499 $8,106,000 $0 $0 $20,226,880 $8,340,714 $3,043,074 $6,647,001 $0 $674,300 $67,685,468
113 85 4 0 12 4 15 317 49 0 23 521
Units
0 0 0
2017 Value Permits
$3,475,900 $3,475,900 $0 $0 $0 $0 $0 $331,867 $750,000 $0 $73,000 $4,630,767
5 5 0 0 0 0 2 30 2 0 10 49
$22,124,200 $17,774,200 $750,000 $0 $3,600,000 $2,783,755 $12,112,758 $4,022,940 $40,928,947 $0 $312,593 $82,285,193
68 66 2 0 0 1 18 293 57 0 13 450
Units
3-Yr Avg Value
Permits
$721,000 $721,000 $0 $0 $0 $0 $3,456,413 $171,704 $79,385 $0 $150 $4,428,652
13 12 1 0 0 0 1 35 2 0 9 62
$13,736,000 $13,486,000 $250,000 $0 $0 $4,400,000 $53,544,267 $3,383,530 $18,061,519 $0 $137,000 $93,262,316
109 83 18 0 4 5 16 304 53 0 21 509
$52,388,991 $48,452,991 $3,476,000 4 $460,000 0 $0 440 $37,006,598 $37,965,050 $12,406,282 $36,725,558 $3,645,639 $15,501,244 $195,639,362
257 208 22 27 0 10 33 700 217 21 203 1,441
$46,442,110 $33,797,110 $12,645,000 $0 $0 $0 $18,023,458 $4,093,434 $3,128,767 $12,337,098 $497,915 $84,522,782
251 178 46 9 0 1 17 278 36 5 18 605
$113,288,101 $96,457,101 $16,371,000 4 $460,000 0 $0 485 $41,406,598 $112,989,188 $20,054,950 $57,995,229 $15,982,737 $16,136,309 $377,853,112
630 481 87 36 4 16 68 1317 308 26 251 2,616
0 0 0
Units
0 0 0
Value
$3,395,917 $3,082,583 $313,333 $0 $0 $0 $1,192,138 $239,085 $478,128 $0 $29,613 $5,334,881
MOORHEAD Total Housing Starts Single Family Twin Home Row / Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
145 97 48 0 0 10 16 303 54 0 27 555
0 0 240
0 24 36
0 0 45
0 8 107
$21,537,900 $17,302,566 $3,035,333 $0 $1,200,000 $9,136,878 $24,665,913 $3,483,181 $21,879,156 $0 $374,631 $81,077,659
FARGO Total Housing Starts Single Family Twin Home Row / Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
252 173 20 59 0 10 43 679 218 27 187 1,416
$53,201,120 295 $42,476,300 252 $3,407,490 24 59 $7,317,330 19 0 $0 0 450 $38,528,540 11 $26,587,191 30 $9,806,016 693 $54,937,753 210 $119,791,754 25 $12,162,133 224 $315,014,507 1,488
$73,931,952 225 $64,923,680 199 $3,414,600 22 19 $5,593,672 4 0 $0 0 403 $32,728,900 9 $44,590,573 26 $12,523,103 727 $42,205,925 223 $37,885,436 11 $17,298,409 198 $261,164,298 1,419
27 0 431
$59,840,688 $51,950,990 $3,432,697 $4,457,001 $0 $36,088,013 $36,380,938 $11,578,467 $44,623,079 $53,774,276 $14,987,262 $257,272,722
WEST FARGO Total Housing Starts Single Family Twin Home Row / Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
283 185 48 18 0 2 14 249 22 6 27 603
$62,382,111 $48,151,111 $6,905,000 50 $7,326,000 0 $0 12 $1,350,000 $25,098,480 $4,532,412 $7,971,020 $8,595,097 $1,942,500 $111,871,620
265 200 34 8 0 0 26 308 53 6 14 672
$63,476,983 $50,869,650 $8,267,333 31 $4,340,000 0 $0 0 $0 $40,950,860 $4,534,551 $5,218,425 $29,629,090 $3,275,718 $147,085,627
204 149 55 0 0 0 12 276 32 4 12 540
0 0 0
27 0 4
$57,433,735 $44,272,624 $9,272,444 $3,888,667 $0 $450,000 $28,024,266 $4,386,799 $5,439,404 $16,853,762 $1,905,378 $114,493,343
TOTAL Total Housing Starts Single Family Twin Home Row / Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
8/7/2017
701 472 120 77 0 22 75 1264 298 33 248 2,641
$150,327,580 687 $116,325,760 551 $19,358,490 62 109 $14,643,330 27 0 $0 12 702 $60,105,420 15 $60,146,385 71 $17,595,186 1361 $70,160,774 313 $128,386,851 31 $14,794,622 272 $501,516,818 2,750
$163,009,035 502 $137,043,430 419 $12,431,933 79 50 $9,933,672 4 24 $3,600,000 0 439 $35,512,655 10 $97,654,191 58 $21,412,461 1326 $89,103,297 314 $67,514,526 15 $20,959,720 233 $495,165,885 2,458
No assurance is provided on this report. Permit information reported here may have changed. For the most current permit information, please contact the individual cities.
54 8 542
$142,208,239 $116,608,764 $16,053,808 $8,345,667 $1,200,000 $45,674,891 $90,263,255 $19,687,532 $72,419,767 $70,628,038 $17,296,884 $458,178,605
Home Builders Association of Fargo-Moorhead Outlying Communities Building Permit Report 2017 - Year-to-Date (July) 2016 BARNESVILLE, MN Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
Permits
Units
2017 $707,000 $707,000 $0 $0 $0 $0 $96,000 $236,700 $20,545 $0 $12,508 $1,072,753
2 2 0 0 0 0 1 12 1 2 0 18
$459,000 $459,000 $0 0 $0 0 $0 0 $0 $140,434 $209,116 $95,000 $23,359,647 $0 $24,263,197
KINDRED, ND Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
2 2 0 0 0 0 0 6 0 0 0 8
$180,000 $180,000 $0 $0 $0 $0 $0 $1,800 $0 $0 $190,600 $372,400
1 1 0 0 0 0 0 1 0 0 2 4
$220,000 $220,000 $0 $0 $0 $0 $0 $10,000 $0 $0 $137,000 $367,000
MAPLETON, ND Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
25 11 14 0 0 0 1 11 1 0 0 38
$0 $0 $0 $0 $0 $0 $0 $204,036 $75,000 $0 $0 $279,036
21 20 1 0 0 0 2 16 5 0 20 64
$7,096,435 $6,696,435 $400,000 0 $0 0 $0 0 $0 $465,000 $958,031 $733,641 $0 $320,300 $9,573,407
OXBOW, ND Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
7 7 0 0 0 0 1 1 0 0 0 9
TOTAL Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
50 35 14 0 1 0 4 82 9 1 28 174
10 10 0 0 0 0 0 31 5 0 18 64
$2,643,000 $2,643,000 $0 0 $0 0 $0 0 $0 $0 $389,480 $60,500 $0 $127,591 $3,220,571
2 2 0 0 0 0 1 30 3 0 10 46
CASSELTON, ND Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
1 1 0 0 0 0 1 24 2 1 3 32
$311,000 $311,000 $0 0 $0 0 $0 0 $0 $50,000 $282,115 $52,000 $1,470,600 $52,000 $2,217,715
HARWOOD, ND Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
1 1 0 0 0 0 0 1 0 0 3 5
HORACE, ND Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
0 0 0 0 0 0 0 4 1 0 0 5
8/7/2017
0 0 0
0 0 0
2016 HAWLEY, MN Total Housing Starts Single Family Twin Home Row/Town House Duplex Multi-Family New Commercial Residential Remodel Commercial Remodel Public Miscellaneous Total
Value Permits
Units
0 0 0
0 0 0
Value
Permits
Units
4 3 0 0 1 0 1 4 0 0 4 13
No assurance is provided on this report. Permit information reported here may have changed. For the most current permit information, please contact the individual cities.
2017 Value Permits
$1,050,000 $800,000 $0 $0 $250,000 $0 $615,333 $11,100 $0 $0 $20,900 $1,697,333
3 3 0 0 0 0 0 0 0 0 12 15
$387,000 $387,000 $0 $0 $0 $0 $0 $459,400 $0 $0 $0 $846,400
4 4 0 0 0 0 2 3 1 0 0 10
$4,480,743 $2,891,743 $1,589,000 $0 $0 $0 $650,000 $110,846 $30,670 $0 $0 $5,272,259
27 23 4 0 0 0 0 12 2 0 1 42
$5,242,000 $5,242,000 $0 $0 $0 $0 $1,300,000 $18,000 $0 $0 $0 $6,560,000
11 11 0 0 0 0 0 1 0 0 0 12
$14,293,743 $12,454,743 $1,589,000 0 $0 1 $250,000 0 $0 $2,615,333 $1,476,777 $218,170 $1,470,600 $391,091 $20,465,714
71 66 5 0 0 0 6 75 12 2 45 211
0 1 0
0 0 0
0 0 0
0 0 0
Units
0 0 0
0 0 0
0 0 0
0 0 0
Value
$940,000 $940,000 $0 $0 $0 $0 $0 $0 $0 $0 $1,782,000 $2,722,000
$1,240,000 $1,240,000 $0 $0 $0 $0 $345,000 $9,798 $15,000 $0 $0 $1,609,798
$6,940,480 $6,082,480 $858,000 $0 $0 $0 $0 $66,613 $4,000 $0 $68,000 $7,079,093
$9,255,303 $9,255,303 $0 $0 $0 $0 $0 $352,000 $0 $0 $0 $9,607,303
$26,858,218 $25,600,218 $1,258,000 0 $0 0 $0 0 $0 $1,046,434 $1,842,258 $868,186 $23,359,647 $2,319,808 $56,294,551