Commercial construction remained strong in 2017 according to HBA of F-M year-end building permit report
FARGO — While overall building permit numbers dipped, commercial construction and residential remodeling values climbed in 2017, according to a year-end building permit report released Wednesday, Feb. 14, by the Home Builders Association of Fargo-Moorhead.
Considering all sectors of construction, building permits were down about 7 percent from 4,901 in 2016 to 4,571 in 2017. Total permit value was down 14 percent from $940,949,591 in 2016 to $809,849,327 in 2017.
In brighter news, values for new commercial permits increased 19 percent from $175,511,066 in 2016 to $209,248,164 in 2017. Also notable this year is a 6 percent increase in the value of residential remodeling permits from $35,807,787 to $37,790,739.
Numbers included single-family and attached housing, multi-family housing, residential remodeling, new commercial, commercial remodeling, public and miscellaneous permits.
The Fargo-Moorhead metro area includes Dilworth, Fargo, Moorhead and West Fargo. Outlying communities include Barnesville and Hawley in Minnesota, and Casselton, Harwood, Horace, Kindred, Mapleton and Oxbow in North Dakota.
In a statement that accompanied Wednesday's report, Dustin Murray, president of the HBA of F-M, pointed out that the local housing market remains strong compared to national numbers.
"Fluctuations in construction activity are common as markets adjust. Speaking specifically about housing, indications from our national association show that our market is still very strong. With our robust job market, low unemployment rate, diverse economy, banks that are willing to lend, and efforts to attract people to our communities, I believe we will continue to have growth," he said.