GRAND FORKS/EGF SEPT 2013 & YTD BUILDING PERMIT TOTALS

Grand Forks had just over an $18 million month for building permit values for September. That is pretty good considering that the total for the year was nearly $172 million at that time. That is aa lot of building.

Last year the total for September was just over $20 million, but it had plenty of room for that expansion as the building permits at the end of September totaled only some over $104 million.

The single family housing total is ten percent ahead of last year at this time after the September value of over $6 million which was the best total for any month in all of 2012 through this time in 2013.

Of course the big figure this year is for apartments. At the end of September that figure totals nearly $70 million. Last year it was only just over $22 million for the whole year. If there was only the same dollar value of apartments this year the total for the year might not exceed last years, at least it will be close.

Why all the apartment building? I have some ideas and will discuss my theory over the remainder of the year. In the meantime, here are the September and YTD stats:

As for East Grand Forks, at the end of September the year to date total is 75% of the same time last year. While we would prefer to see a figure more like 125% this does not have to be regarded as negative when we are dealing with the smaller towns. Next year it could easily be. The advantage that this town has is that it is beside a larger growing town. It is in a positive category, especially once Minnesota gets its self back on track.

 

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