North Dakota housing units authorized for construction in 2007 totaled 3,360, which is a decrease of 4.8 percent from 3,529 in 2006. The total value associated with newly authorized housing units peaked in 2006 at $462.3 million and decreased to $445.7 million in 2007.

This month’s “Economic Brief,” a monthly publication from the North Dakota State Data Center at North Dakota State University, focuses on the number and value of new housing units authorized for construction by building permits in North Dakota. The data was released by the U.S. Census Bureau’s Residential Construction Branch.

The overall decline in newly authorized housing units in North Dakota between 2006 and 2007 was largely the result of 103 fewer single-family homes authorized for construction (from 2,297 in 2006 down to 2,194 in 2007).

“This decline may reflect the impact of the mortgage crisis that is still rippling through the national economy,” says Richard Rathge, State Data Center director.

North Dakota housing units authorized for construction in multiple-unit structures decreased by 66 in 2007 (1,232 in 2006 down to 1,166 in 2007).

In 2007, single-family homes made up nearly two-thirds of all new housing in North Dakota (65.3 percent). The value of single-family homes authorized for construction averaged $161,150. Since 1980, the average values for new, single-family home construction in North Dakota have risen, on average, 4.7 percent per year.

Nationally, home values averaged $187,449 in 2007. Texas, Florida and California captured 27.9 percent of all new housing units in 2007, which is down from 31.6 percent in 2006.

NDSU Agriculture Communication