2020 Was A Slow Year For Rochester Homebuilders
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Rochester, MN (KROC-AM News) - Despite a strong demand for homes in Rochester in 2020, the city approved the lowest amount of permits for new single-family houses in nearly 10 years.
The city's latest report on building activity during 2020 shows builders took out 266 permits for new single-family homes. That’s the lowest yearly total since 191 in 2011.
It also marked the fourth straight year of falling permits for new homes:
- 2017: 429
- 2018: 347
- 2019: 289
- 2020: 266
Construction of new townhomes was also slow as only 41 permits were issued during the year.
The city issued a total of 1,970 permits for new construction projects during 2020. They had an overall valuation of nearly $367-million.
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