OCT - NOV 2020
1 | FOUNDATIONS NEWSLTR
ROCHESTER AREA BUILDERS, INC.
FASHION SHOW UPDATE ON THE 2021 DATE
6
40 BELOW SALVATION ARMY DONATION UPDATE
EYE ON HOUSING LUMBER PRICES SURGE
8
13
D C
DEVELOPMENT COUNCIL a division of the Rochester Area Builders, Inc.
C OMMERCIAL C B UILDERS
OUNCIL
a division of Rochester Area Builders, Inc.
STAFF EXECUTIVE DIRECTOR John Eischen, John@RochesterAreaBuilders.com STAFF Shelly Bahlmann, Shelly@RochesterAreaBuilders.com Golf Outing, Sporting Clays, Home Show, Directory, Newsletter, RAB Update Audra Bolduan, Audra@RochesterAreaBuilders.com Builders Exchange Trustees and Showcase Committee, Website Rebekah Nielsen, Rebekah@RochesterAreaBuilders.com Ambassadors, Awards, Community Relations, Education, Membership, Fashion Show, Program, Remodelers Council, Executive & Remodelers Tour, 40 Below GOVERNMENT & PUBLIC AFFAIRS CONSULTANT Rick Dold, Rick@GodwinDold.com
BOARD OF DIRECTORS PRESIDENT Alissa Moe, Bremer Bank VICE PRESIDENT Luke Stier, Stier Construction, Inc. SECRETARY Becky Holmen, Haley Lighting TREASURER Jesse Buhl, MedCity Consulting PAST PRESIDENT Jerry Jensen, Valor Mechanical, Inc. DIRECTORS Kenneth Bush, Bush Companies Adam Giannini, Meyer Borgman Johnson Spencer Holmen, TLS Companies Jennifer Lawver, ERH Developing, Inc. Tom Leimer, Knutson Construction Jennifer Mitchell, Edina Realty Kevin Reckinger, Bricewood, LLC Kevin Sternberg, Countryside Builders, LLC Charlie Sweeney, Kraus-Anderson Construction
ROCHESTER AREA BUILDERS
WEBINAR REPLAY Subscribe to the Rochester Area Builders’ YouTube channel to get access to our Webinars and other videos.
Fall Remodelers Showcase of
BUILDERS EXCHANGE COUNCIL REPRESENTATIVES John Honeck, WHV, Inc., (Chair) Kurt Hoeger, United Rentals, (Vice Chair) Jeremy Wohlfiel, Merit Contracting, Inc. (Past Chair) COMMERCIAL BUILDERS COUNCIL CHAIR Vanessa Hines, Widseth DEVELOPMENT COUNCIL CHAIR Hal Henderson, HGA Architects & Engineers REMODELERS COUNCIL CHAIR Jessica Markley, Elias Construction 40 BELOW CHAIR Katie Olson, Kimley-Horn & Associates, Inc. NATIONAL LIFE DIRECTORS Joe Weis, Weis Builders, Inc. Steve Buss, Cornerstone Builders & Real Estate, Inc. NATIONAL DIRECTORS Dana Hlebichuk, Widseth Levi Kaiser, Benike Construction (Rep) Todd Severson, TLS Companies, LLC STATE DIRECTORS Mike Allen, Mike Allen Homes, LLC Jean DeWitz, DeWitz Home Builders, Inc. (Rep) Kathy Einck, Maplewood Homes.LLC John McGuine, JM Consulting David Pederson, Dunlap & Seeger Dan Severson, Dan Severson Builders, Inc.,
MISS THE FALL SHOWCASE OF HOMES OR REMODELERS TOUR? View all entries virtually through our app or by visiting our website RochesterAreaBuilders.com Overall Event Sponsor: Virtual Showcase made possible by:
MISSION STATEMENT The Rochester Area Builders, Inc, chartered in 1953, is a professional organization of commercial & residential builders, remodelers, developers and associated businesses dedicated to advancing the building industry in Southeast Minnesota. We are the trusted voice of the industry, providing leadership, education, networking, and information resources to our members, community and government officials.
42 Annual nd
6 11 13
20
8 FALL SHOWCASE / REMODELERS TOUR............... 2
Virtual Showcase and Tour Information
RAB CALENDAR.................................................. 4
ROCHESTER BUILDING PERMITS........................14
September 2020
BYRON BUILDING PERMITS................................14
November 2020
September 2020
LETTER FROM RAB PRESIDENT........................... 5
SEMR HISTORICAL OVERVIEW............................15
Alissa Moe, Bremer Bank, 2020 RAB President
MEMBERSHIP REPORT........................................ 6
September 2020
September 2020
OLMSTED BUILDING PERMITS ...........................15
September 2020
FASHION SHOW UPDATE..................................... 6
2020 Show date moved to 2021
NAHB NOW ....................................................... 7
Remodeling Industry Confidence Surges in Third Quarter
NEW MEMBER WELCOME ................................... 8
October New Members
40 BELOW.......................................................... 8 Clothing Drive
MEMBERSHIP DUES...........................................10
A New Way to Pay!
RAB HOME SHOW..............................................11
Registration Information
NAHB EYE ON HOUSING.................................... 13
Building Materials Up 4.4% in 2020
COMING SOON We will be sending out an email this week regarding marketing opportunities with RAB. Keep an eye out for this special communication. Email, RAB@RochesterAreaBuilders.com if you do not recieve this informaiton.
4 | OCTOBER - NOVEMBER 2020
NOVEMBER 2020 SUNDAY
MONDAY 1
8
TUESDAY
WEDNESDAY
THURSDAY
2
3
4
12:00 PM Government Affairs Committee Meeting
8:00 AM Remodelers Council Executive Meeting 11:30 AM Executive Committee Meeting
7:30 AM CBC Executive Meeting 12:00PM Showcase Comittee Meeting
9
10
11
3:30 PM Builders Exchange Board of Trustees Meeting
FRIDAY
SATURDAY
5
6
7
12
13
14
19
20
21
27
28
3:00 PM 4:30 PM RAB Board Meeting 40 Below Executive Meeting
VE T E RAN’S DAY
15
16
17
18
11:30 AM 7:30 AM 12:00 PM 7:30 AM Fashion Show Green Building Ambassadors Membership Committee Meeting Committee Meeting Committee Meeting Committee Meetin
22
23
24
11:30 AM 12:00 PM Home Show Education Committee Meeting Committee Meeting
29
30
25
26
5 | FOUNDATIONS NEWSLTR
FROM THE PRESIDENT It is certainly hard to believe that November of 2020 is upon us. It seems as though winter was knocking on our door, as we received quite a bit of snow midOctober, however, the forecast has 50 degree days in sight… Perhaps some of the last for this season. Alas, the end of the year brings new beginnings. If you are interested in getting more involved with the association, I would suggest reviewing our list of committees, councils, and board positions. Playing an active role within the association allows you to have a direct impact on the association, spread awareness of your business and what you specialize in, as well as meet other passionate members that are eager to make a difference in our community and industry alike. Speaking of involvement within the association, I would like to thank our young professionals group, 40 Below, for continuing the annual tradition of community involvement. In year’s past, the group partnered with the Catholic Charities to construct the artistic structure used for the “Locks of Compassion” initiative, built a bus shelter for a neighborhood in need, volunteered time and resources at Rochesterfest, and more! In 2020, the group contributed to the community by partnering with the Salvation Army to coordinate a clothing drive for those in need within Rochester and the surrounding area. I would also like to extend gratitude to everyone that found it within their hearts to donate items to the clothing drive. Your generosity to help the less fortunate has not gone unnoticed. Thank you! In addition to 40 Below contributing to our community, RAB has developed a wonderful partnership with KassonMantorville Public Schools. A partnership that is centered around the common goal of introducing our youth to the abounding opportunities that a career in the trades can provide. I am delighted to share that
RAB was able to donate roughly $3,500 worth of tools to the Kasson-Mantorville Middle School wood working program. These tools will allow the K-M school district to implement the “Career Connections” curriculum through the carpenters union, engaging students in relevant hands-on project based learning. It is exciting to know that thanks to this donation from RAB, we are directly inspiring skills that students can use throughout their lives. In addition to this donation, I would like to remind everyone that we are still going to proceed with job-shadow opportunities for participating school districts. These shadows will be pre-recorded and shared virtually with the students, teachers, and parents. I would love to see a high turn out in members willing to participate and have segment of their job filmed and broadcasted to these kids to generate interest in the trades. Please contact Rebekah or John to participate. I would also encourage you to spread the word of our involvement with local schools and encourage other schools to join in on the job shadow opportunities that RAB offers. The 2021 Home Show is about 100 days away! This event is a massive part of what RAB does to help you demonstrate what you bring to the table as a valued member of the construction industry. A first impression can last a lifetime, and this is the place to stand out and make your business memorable. We still have booths available and have already begun our plans to ensure that the show can take place while maintaining safety for all exhibitors and guests.
Alissa Moe Bremer Bank 2020 RAB President
Alissa Moe President Rochester Area Builders, Inc
6 | OCTOBER - NOVEMBER 2020
ROCHESTER AREA BUILDERS, INC.
MEMBERSHIP REPORT SEPTEMBER 2020
2021 FASHION SHOW UPDATE
MEMBERSHIP TOTAL: 426 RETENTION RATE: 87.3 As of September 30, 2020
ONE TO FOUR YEARS Continuum Financial Group..................................... 2019 Southeastern MN Multi-County HRA...................... 2017 City of Lanesboro....................................................... 2016 Destination Medical Center EDA.............................. 2016
FIVE TO NINE YEARS Creative Curb Appeal.............................................................. 2015 St. Charles EDA......................................................................... 2015 Heartland Security Services, LLC ....................................... 2014
TEN TO 19 YEARS Nuss Truck & Equipment....................................................... 2010 Advanced Builders & Remodeling....................................... 2007 Eckert Construction, Inc.......................................................... 2007 Penz Custom Homes, Inc....................................................... 2006 Mike Allen Homes, LLC........................................................... 2005 The Home Depot....................................................................... 2005 Jim Whiting Nursery & Garden Center, Inc...................... 2003 507 communications LLC....................................................... 2002 David Reiland Building Contractor, LLC............................. 2002 Goodin Company....................................................................... 2001
20 YEARS & MORE United Rentals........................................................... 2000 Werner Electric.......................................................... 1999
STUDS, STRUTS & STILETTOS HAS BEEN MOVED TO OCTOBER 14, 2021.
Leyendecker Homebuilders, LLC............................. 1996 Ryan Windows & Siding, Inc.................................... 1992 Accord Electric, Inc.................................................... 1985 Swenke Ims Contracting, LLC.................................. 1985 Carpet One of Rochester.......................................... 1983 Robert Gill Builder, Inc.............................................. 1963
MORE INFORMATION WILL BE COMING SOON! STAY UP TO DATE BY LIKING AND FOLLOWING
7 | FOUNDATIONS NEWSLTR
REMODELING INDUSTRY CONFIDENCE SURGES IN THIRD QUARTER BY CARMEL FORD on OCTOBER 15, 2020 The National Association of Home Builders’ Remodeling Market Index (RMI) posted a reading of 82 in the third quarter, indicating remodelers’ strong confidence in their markets, for projects of all sizes (Table 1). The strong RMI reading is a reflection of more Americans investing in home remodeling projects as they adapt to the impacts of the coronavirus pandemic.
The RMI is based on a survey that asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The Current Conditions Index is an average of three of these components: the current market for large remodeling projects, moderately-sized projects and small projects. The Future Indicators Index is an average of the other two components: the current rate at which leads and inquiries are coming in and the current backlog of remodeling projects. The overall RMI is calculated by averaging the Current Conditions Index and the Future Indicator Index. Any number over 50 indicates that more remodelers view remodeling market conditions as good than poor. In the third quarter, all components and subcomponents of the RMI were 77 or above. The Current Conditions Index averaged to 86, with large remodeling projects ($50,000 or more) yielding a reading of 80, moderately-sized remodeling projects (at least $20,000 but less than $50,000) at 86 and small remodeling projects (under $20,000) at 90. These readings indicate that the strength for remodeling is felt across all project sizes. Meanwhile, the Future Indicators Index averaged to 77, with the rate at which leads and inquiries are coming in at 78 and the backlog of remodeling jobs at 77. Demand for remodeling has surged as homeowners shift to spending more time at home in the midst of the coronavirus pandemic. Although demand is strong, it is important to note that remodelers face serious supply-side challenges, particularly with material pricing and availability. In fact, remodelers reported double digit percentage increases in the price of key materials, compared to six months ago. And materials like lumber and appliances are experiencing delivery delays, extending projection completion times. The RMI was redesigned in 2020 to ease respondent burden and improve its ability to interpret and track industry trends. As a result, readings cannot be compared quarter to quarter until enough data are collected to seasonally adjust the series. To track quarterly trends, the redesigned RMI survey asks remodelers to compare market conditions to three months earlier, using a ‘better,’ ‘about the same,’ ‘worse’ scale. In the third quarter, 52 percent of respondents indicated that the market is ‘better’ while only 6 percent rated it “worse.” For the full RMI tables, please visit http://www.nahb.org/rmi.
8 | OCTOBER - NOVEMBER 2020
WELCOME NEW RAB MEMBERS OCTOBER 2020 BAYER INTERIOR WOODS
BUSH COMPANIES
BUSH COMPANIES NIKKI JOHNSON
Custom Cabinets (612) 297-4061 bayerinteriorwoods.com
KENNETH BUSH
Developer (507) 272-1056 bushcompanies.com
40 Below Clothing Drive ! u o Y k
n a h T RAB
FORTY o
BEL W CONNECTING. BUILDING. ENGAGING.
Thank you to everyone who donated coats and clothing during our drive with the Salvation Army in conjunction with Rochester Spirit Days. As temperatures continue to
drop it is important they have warm clothing to provide for those in need. Although our drive is over they will gladly accept warm coats and outerwear as winter nears.
9 | FOUNDATIONS NEWSLTR
Make your new home your dream home. CONTACT OUR REAL ESTATE LENDERS TODAY!
CRYSTAL HUGHLEY
ANDREA EICKHOFF
Rochester Location 975 34th Ave NW (507) 424-1571
Stewartville Location 1960 1st Ave NE (507) 504-1070
crystal.hughley@bankononb.com
andrea.eickhoff@bankononb.com
| BankonONB.com |
10 | OCTOBER - NOVEMBER 2020
You can now choose to pay your annual membership dues with a monthly payment op�on of $59/month. Save on stamps, checks, and late payments. Just set up automa�c monthly payments! Please follow these simple steps to get started.
$59
STEPS:
/mo.
1. Login to the Member Informa�on Center at http://rochesterareabuilders.memberzone.com/login?dest=paymentprofile 2. Add your credit card or bank account as a new Payment Profile. 3. Click the checkbox next to these words “By checking this box and submi�ng this payment profile...”. 4. Click “Add Profile” bu�on to save your Payment Profile. That's it. We will let you know when the setup is complete and provide confirma�on of the monthly dues payment details. If you wish to u�lize an automa�c annual payment for your annual dues, please send us an email message. For questions or concerns, please contact us at (507) 282-7698 or RAB@rochesterareabuilders.com *Forgot your login? Go to: http://rochesterareabuilders.memberzone.com/login/forgotpwd to reset your password. Or create your login account for the first time at this registration page: https://rochesterareabuilders.memberzone.com/CreateAccount
11 | FOUNDATIONS NEWSLTR
ROCHESTER AREA BUILDERS HOME SHOW 42 Annual nd
BOOTH REGISTRATION IS OPEN! CHECK OUT OUT THE MAP HERE
February 5-7, 2021
app is back with updates
Sunday Family Fun Day
NOW WITH MULTI-FLOOR VIEWS
family fun
Rochester Area Builders, Inc.
virtual booth options
friday night
Date night with celebrity chef
Shari Mukherjee
from masterchef with gordon ramsay season 10
12 | OCTOBER - NOVEMBER 2020
13 | FOUNDATIONS NEWSLTR
Softwood Lumber Prices Surge a Record 29% in September — Building Materials Up 4.4% in 2020
BY DAVID LOGAN on OCTOBER 14, 2020 Prices paid for goods used in residential construction climbed 1.8% in September (not seasonally adjusted) according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy (i.e. the “core”)—a less volatile price measure—increased 2.2% over the month. The core index for building materials has increased 4.0% since declining 0.6% in April and is up 4.4% year-to-date (YTD).
weakening U.S. dollar (USD) since March. Although it has ameliorated in recent weeks, the value of the USD relative to the Canadian dollar remains 8.4% lower than it was in the spring.
The only region to experience a price decline in September was the South (-0.8%). Prices rose in the Northeast, Midwest, and West by 3.3%, 1.5%, and 4.4%, respectively (not seasonally adjusted).
Prices paid for gypsum products climbed 0.2% in September following 0.2% and 0.4% declines in July and August, respectively (seasonally adjusted). Although it has decreased 2.8% YTD, the price index for gypsum products has risen 0.5% over the past 12 months.
Other changes in indexes relevant to home building and infrastructure are shown below.
A 28.6% increase in prices paid for softwood lumber (seasonally adjusted) led the overall index higher and is the fourth consecutive double-digit percentage increase, month-over-month. Over the last five months, the PPI for softwood lumber has nearly doubled (+90.9%). Sharply higher lumber prices have added nearly $16,000 to the price of an average new single-family home since mid-April. The monthly increase is the largest in the history of both the seasonally adjusted and unadjusted data sets which date back to 1975 and 1947, respectively. The biggest monthly increase during the thenhistoric price run of 2018 was 5.4%, less than half the magnitude of the smallest increase since June 2020.
In addition to nominal price increases and tariffs on Canadian lumber, crossborder purchasers have been hurt by a
Prices paid for ready-mix concrete (RMC) rose 1.5% in September (seasonally adjusted), a monthly increase the magnitude of which is atypical of the commodity. The national PPI for RMC has increased by more than 1% just five of the 135 months since the end of the Great Recession. The average annual change in prices paid for RMC was 2.6% over the last decade.
14 | OCTOBER - NOVEMBER 2020
ROCHESTER BUILDING PERMITS
SEPTEMBER 2020
2011 2012 2013 2014 2015 2016 2017 2018
NEW RESIDENTIAL
2020
Single Family Dwelling
25
8,291,281
12
3,104,877
5
744,551
0
0
February
Townhome Dwelling
VALUATION 2019
2019 2020
VALUATION January
3
6
19
11
20
25
15
19
6
17
8
20
15
14
19
15
20
24
32
29
28
30
31
44
16
5
13
25
27
32
Two-Family Houses
0
0
0
0
March
Manufactured Home
0
0
0
0
April
19
29
39
25
22
33
45
40
23
19
Multi-Family Bldgs (Units)
0
0
50
5,675,738
May
14
22
27
35
19
56
43
28
27
19
June
26
32
33
47
51
41
52
38
31
21
July
8
39
39
38
29
44
45
36
26
26
August
18
38
21
60
33
47
30
31
24
17
September
19
22
22
23
27
52
35
39
12
30
139
240
244
281
250
344
329
272
180
194
October
16
23
34
35
49
25
36
29
27
November
20
22
26
26
23
12
41
21
47
December
16
14
22
27
42
37
33
25
34
*total may differ been voided. TOTAL 191as permits 299 may 326 have369 369 418
429
347
289
EXISTING RESIDENTIAL Deck Addition
19
180,400
18
103,730
Room Addition
4
189,903
5
341,344
Porch Additions
3
41,000
1
15,000
Other Additions
4
229,226
7
195,122
Basement Finish
18
248,248
12
235,814
Alterations
31
480,812
50
478,282
Multi-Family Addition
0
0
0
0
Multi-Family Alterations
6
335,892
20
844,341
Assembly (Church)
0
0
0
0
Assembly (General)
0
0
0
0 0
TOTAL
194
*total may differ as permits may have been voided.
NEW COMMERCIAL
Assembly (Restaurant/Bar)
0
0
0
Business
2
1,350,000
1
90,000
Education
0
0
0
0
Factory/Industrial
0
0
0
0
BUILDING PERMITS ISSUED TO DATE
0
0
0 0
Institution
0
Mercantile
0
0
0
Miscellaneous
0
0
0
0
Residential (Apartment)
0
0
0
0 0
Residential (Care/Assisted Living)
0
0
0
Residential (Care/Hotel/Motel)
0
0
0
0
Storage (General)
0
0
1
95,000
Storage (Parking Garage)
0
0
0
0
Storage (Warehouse)
0
0
0
0
Utility (General)
0
0
0
0
Utility (Private Garage)
0
0
0
0
1
850,000
3
3,276,910
18
2,609,761
30
44,488,795
Structural Shell
2
8,896,511
0
0
“White Box”
0
0
0
0 18,775 0
Alterations
Interior Demolition Only
1
64,000
1
Other Phased Permits
0
0
0
OTHER CONSTRUCTION Business Signs
7
50,900
7
56,200
Advertising Signs
0
0
0
0
Footings & Foundations
0
0
1
3,275,000
Demolition
3
0
0
0
Information and downloads available at Rochester Building Safety Department’s website: https://www.rochestermn.gov/departments/building-safety/reports-building-permits/ building-permits-2020
2020 VALUATION
NO.
2019 VALUATION
1433
252,482,229
1648
352,438,767
Single Family Dwelling
163
49,900,547
153
45,578,350
Multi-Family Buildings Total Units: 91
3
13,010,000
6
29,836,955
TRADE PERMITS ISSUED TO DATE
7,166
75,230,830
7607
87,446,348
2747
32,842,035
3048
39,519,427
Electrical Electrical (Temp. Service)
207
74,775
195
99,746
1931
21,849,524
1968
22,810,099
Mechanical (Gas Piping)
474
743,842
436
830,118
Mechanical (Fireplace)
218
931,040
230
1,034,746
Mechanical (Hydronic)
113
4,527,561
140
9,821,418
1476
14,262,053
1590
13,330,794
Mechanical (HVAC)
Plumbing
EXISTING COMMERCIAL Addition
YEAR TO DATE STATISTICS
NO.
TOTAL PERMITS YTD
8599
327,713,059
9255
438,885,115
SEPTEMBER 2020
BYRON
BUILDING PERMITS
NUMBER
VALUATION
Multi-Family
NEW RESIDENTIAL
0
0
Single Family Detached
2
625,000
Basement Finish
0
0
Deck Addition
0
0
Existing Residential
15 | FOUNDATIONS NEWSLTR
OLMSTED COUNTY PERMITS YTD
2020
VALUATION
2019
VALUATION
Single Family-Attached Garage
5,546,312
15
Addition
4,033,539
0
0
0
0
24
1,108,076
13
493,164
27
150,028
30
137,654
6
397,262
13
932,529
79
1,407,611
54
612,003
2
69,192
4
101,048
RESIDENTIAL Addition Alterations Garage Addition
1
VALUATION
422,867
2
886,284 1,173,590
Alterations
10
636,338
10
Re-roofing
2
8,250
0
0
13
415,671
11
314,542
34
3,430
61
0
150
1,709,747
143
1,047,285
92
1,160,832
66
477,522
463
19,973,270
429
$11,236,684
Pool, Retaining Wall, etc. Manufactured Homes
MISCELLANEOUS PERMITS Mechanical
NEW COMMERCIAL/INDUSTRIAL Recreational
0
0
1
175,000
Church/Religious
0
0
0
0
Industrial/Warehouse
1
236,059
1
99,484
Service/Repair Station
0
0
0
0
Store/Restaurant
0
0
0
0
Nonresidential Building
1
355,968
0
0
VALUATION $0 PERMITS 0
2019
OTHER STRUCTURES
Deck
2019
VALUATION
COMMERCIAL/INDUSTRIAL
20
Single Family-Detached
2020
NEW RESIDENTIAL
SEPTEMBER 2020
Plumbing TOTAL PERMITS
OLMSTED COUNTY PERMITS SEPTEMBER
2020
VALUATION $271,002 PERMITS 3
EYOTA
VALUATION $150,219 PERMITS 12
VALUATION $156,360 PERMITS 8
VALUATION $63,235 PERMITS 21
MARION
VALUATION $355,269 PERMITS 17
VALUATION $0 PERMITS 0
ORONOCO TWP
VALUATION $430,374 PERMITS 20
VALUATION $0 PERMITS 0
QUINCY
VALUATION $497,782 PERMITS 18
STEWARTVILLE
Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
9-2017
9-2018
9-2019
9-2020
Pending Sales
Closed Sales
Days on Market
Median Sales Price
Avg. Sales Price
Pct. of Orig. Price Received
Affordability Index
Homes for Sale
Months Supply
9-2019
9-2020
Percent Change
YTD 2019 YTD 2020
688
632
- 8.1%
6,056
5,564
- 8.1%
512
642
+ 25.4%
4,940
5,264
+ 6.6%
535
645
+ 20.6%
4,672
4,805
+ 2.8%
50
44
- 12.0%
56
55
- 1.8%
$203,000
$228,075
+ 12.4%
$205,000
$220,000
+ 7.3%
$225,755
$254,377
+ 12.7%
$228,227
$245,015
+ 7.4%
97.2%
98.6%
+ 1.4%
97.2%
97.6%
+ 0.4%
200
191
- 4.5%
198
198
0.0%
1,624
922
- 43.2%
--
--
--
3.2
1.7
- 46.9%
--
--
--
Percent Change
Current as of October 4, 2020. All data from Southeast Minnesota REALTORS® and NorthstarMLS®. Provided by the Minnesota Association of REALTORS®. Report © 2020 ShowingTime. | 2
16 | OCTOBER - NOVEMBER 2020
We’re in the offering NAHB members up to $1,000 business.
2018 Chevrolet Low Cab Forward 3500HD
2018 Chevrolet Express 2500 Cargo Van
2018 Chevrolet Silverado 2500HD
2018 GMC Sierra 1500
USING THE PRIVATE OFFER FOR NAHB MEMBERS IS EASY: 1. Get your NAHB Proof of Membership by logging into NAHB.org and obtaining your verification form. 2. Visit your local Chevrolet dealer and mention this Private Offer. 3. Select an eligible vehicle(s) to purchase or lease and present your NAHB proof of membership. For even more value, combine this offer with the National Fleet Purchase Program and Business Choice Offers. For full details on the Private Offer, NAHB members should visit nahb.org/gm. Example offer for NAHB members who are business owners purchasing a 2018 Chevrolet Express 2500 Cargo Van. Up to
$1,000 Private Offer1
+
$3,750
National Fleet Purchase Program (FVX)2
Up to
+
$1,200
Eligible Accessory Cash Allowance3
Up to
=
$5,950 In Potential Value
¹Private offer amount varies by model. City Express and Low Cab Forward receive a $250 Offer for both Fleet and Retail deliveries. Fleet deliveries on the Buick Enclave, Chevrolet Traverse, Silverado, Express, Suburban, Tahoe, GMC Acadia, Sierra, Savana, Yukon, XL receive a $1,000 Offer. All other Fleet or Retail deliveries receive a $500 Offer. Valid toward the purchase or lease of eligible new 2017 and 2018 model year vehicles. Offer excludes Chevrolet Bolt, Camaro, SS, Corvette, Sonic, Spark, Trax, Volt, Buick Cascada, LaCrosse, Regal, Verano, and all Cadillac vehicles. Additional GM models may be excluded from time to time at GM’s sole discretion. Customer must take delivery by 1/2/2019. Not compatible with some other offers. Not valid on prior purchases. See dealer for details. 2Offer available to qualified fleet customers through 1/2/2019. Not compatible with some other offers. Take delivery by 1/2/2019. See dealer for details. 3To qualify, vehicle must be used in the day-to-day operations of your business and not solely for personal/non-business-related transportation purposes. For complete program requirements, including information regarding offers, vehicles, equipment, options, warranties, and ordering, consult your dealer or visit www.gmbusinesschoice.com. Requires $500 minimum purchase. Cash Allowance will be equal to the amount spent up to $1,200. Not eligible on Associated Accessories from third-party independent suppliers. Not available with some other offers. Take delivery by 1/2/2019. See dealer for details. ©2018 General Motors, LLC. All rights reserved. The marks appearing in this ad are the trademarks or service marks of GM, its subsidiaries, affiliates, or licensors.
17 | FOUNDATIONS NEWSLTR
18 | OCTOBER - NOVEMBER 2020
GREAT TIME TO LOCK IN YOUR RATE
R E F I NAN C E YO U R H O M E GREG JOHNSON
JEANNE STRUCKMANN
LOAN ORIGINATOR
LOAN ORIGINATOR
Direct Line 507-258-2192 Email gjohnson@altra.org NMLS# 516974
Direct Line 507-421-7655 Email jstruckmann@altra.org NMLS# 411311
3833 Cascade Creek Rd. NW
(Corner of 19th St. & West Circle Drive)
123 16th Ave. SW, Suite 500 Rochester, MN
507-258-4500 • 800-755-0055 www.altra.org Contact Altra for more information. Equal Housing Lender. Federally insured by NCUA.
19 | FOUNDATIONS NEWSLTR
Members Save Millions Put Your NAHB Membership to Work Now. Money-saving discounts that benefit you, your business and your family
nahb.org/Savings
20 | OCTOBER - NOVEMBER 2020
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