MINNEAPOLIS-New home construction was up again in July as residential construction continues to strengthen throughout the summer, according to a new survey of the market. The portion of multifamily housing of overall residential units dropped in June, with a total of 933, or 51.1% of the 1,827 total planned units, according to a survey by the Builders Association of the Twin Cities.

So far this year, there have been 4,822 multifamily units, or 48.4% of the 9,972 total units. This compares to multi-family units running at 52.7% annually for 2004, 48.6% in 2003, 43.7% in 2002, 41.5% in 2001, and 37.5% in 2000.

"Despite all of the discussion about a housing bubble, our region is doing very well economically," says Doug Nelson, 2005 president of the Builders Association of the Twin Cities and owner of New Spaces.

Citing statistics from the Metropolitan Council, Nelson points out that the Twin Cities region ranks in the top ten of the twenty-five largest metro areas in per capita income, workforce participation and housing affordability--all factors that have and will continue to drive growth.

July had a total of 1,019 permits issued for 1,827 planned units at a value of $311.8 million. Compared with July of last year, this is 2% below the 1,045 permits, yet almost 6% ahead of the 1,726 planned units and over 4% ahead of the value of $298.1 million.In planned units during July, Brooklyn Park had the most, followed by Brooklyn Park, Hugo, Stillwater, Maplewood and Shakopee. Keystone Report, a Chanhassen, MN-based research firm, compiles the information for the Builders Association of the Twin Cities.