Twin Cities Residential Construction Hits Speedbump in August, But On Pace YTD

The Builders Association of the Twin Cities released mixed news for August residential construction starts. August housing starts were down 20% year-over-year. However residential building permits remain more-or-less flat YTD from 2013 (total building permits are down just slightly YTD from 2013, while permitted units are up just slightly). On the whole, the statistics show continued recovery for the beleaguered new housing market.