DATUM Newsletter - 2018 Year


2018 Year Residential Statistics

Submitted
Final Plat
Lots*
Recorded
Subdivision
Lots
Building
Permits
Recorded
Surveys
Vacant
Lots
IDAda4871551146524705517
IDCanyon2586176118554042141

* Submitted Lots data may be delayed depending on each agency's reporting process.

Continued Vacant Lots Replenishment

With 1,606 new residential construction permits issued versus 2,180 new subdivision lots recorded during 2018 Q4, the replenishment of vacant lots continues with a net gain of 574 new residential lots available for home building. In conjunction with the surplus of lots recorded in Q3, the development community provided a net gain of over 750 residential lots during 2018 to combat the decreasing supply of recent years. This boost will facilitate construction through 2019 as warmer months bring an increased seasonal pace.

Treasure Valley Residential Construction by Quarter
Submitted Plat Lots*, Recorded Lots, Permits, & MLS Sales**

* Submitted Lots data may be delayed depending on each agency's reporting process.

** MLS Sales Data—Intermountain Multiple Listing Service, Inc. (http://publicstats.intermountainmls.com/static/staticreports.aspx)

It is noteworthy that although MLS new home sales in yellow typically tracks in parallel with building permits in green, a minor convergence in Q3 suggested that demand exceeded the supply chain velocity, perhaps as a result of pre-purchases before construction was complete. An alternative interpretation is that builders who report their sales to MLS had a higher share of total sales in Q3 versus Q4. In either case, we see in that this was followed by a necessary corrective divergence in Q4 to bring them back toward an overall parallel relationship.

On the topic of supply and demand, MLS Sales Statistics report that Days on Market for new construction in Ada county dropped again to only 46 DOM in Q4, just enough time to clear escrow. Meanwhile median new home price climbed another 10% year-over-year, making it evident that demand is clamoring to obtain new product.

Overall, demand for housing in the Treasure Valley remains very strong, and proactive developments during 2018 have provided some relief to the decreasing availability of vacant lots. These factors will give builders a good foothold to start the year in 2019.

That said, construction rates may see deceleration in the ensuing years. The low-hanging fruits in undeveloped land are already planned or built-out; submittals in Boise are focused on higher-density townhome lots or apartments due to scarce acreage; and annexation of county territory into city limits is a common occurrence for larger preliminary plats. It is reasonable to expect that the effort to create new infrastructure along the fringes of our cities will inhibit the pace of construction as compared with post-recession activity in a cityscape that was ripe for infill growth. To be clear, this is not to suggest that overall building volume will slow down, rather that the rate of increase year-over-year may experience reduction.

For these reasons, Nampa and Caldwell have already been heating up with attention from developers and builders, a trend that is sure to continue. And beyond the Treasure Valley, Gem and Elmore counties are likely to see greater recognition among investors and home buyers seeking price relief from this increasingly competitive marketplace. Meanwhile, multi-family projects around the Boise metropolitan area will certainly have more importance to accommodate the city's growing population against a backdrop of diminishing land.

2018 Total Residential Lots
Submitted vs. Recorded vs. Permits

* Submitted Lots data may be delayed depending on each agency's reporting process.


2018 Year Statistics

Top Builders

Ada
BuilderNew Residential Permits

Corey Barton Homes, Inc.

792

Toll Bros., Inc.

438

Blackrock Homes LLC

248

Brighton Homes

223

Hayden Homes Idaho, LLC

210

Hubble Homes, LLC

152

Hunter Homes, Inc.

131

Todd Campbell Construction, Inc.

120

Riverwood Homes, Inc.

97

Tresidio Corporation

93

Others

2148

Total

4652

Canyon
BuilderNew Residential Permits

Corey Barton Homes, Inc.

580

Hubble Homes, LLC

322

Hayden Homes Idaho, LLC

82

Toll Bros., Inc.

69

Perryman Construction Management Inc.

60

Unknown

36

Brookstone Custom Homes

29

Sunset Homes Inc.

27

Young American Homes, Inc.

23

Cotner Building Company, LLC

21

Others

607

Total

1856


Top Surveyors

Ada
SurveyorLots - ResidentialLots - Total

Gregory G Carter

1256

1435

Aaron L Ballard

947

1088

Clinton W Hansen

902

1037

Michael S Byrns

580

672

Carl Porter

291

321

Joseph D Canning

261

312

Patrick A Tealey

140

160

Cody McCammon

126

136

Glenn K Bennett

103

111

Bert J Nowak

96

110

Others

809

1035

Total

5511

6417

Canyon
SurveyorLots - ResidentialLots - Total

Gregory G Carter

520

578

Michael S Byrns

325

360

Robert F O'Malley IV

195

216

Fritz Brownell

100

103

John S Austin

75

89

Darin A Holzhey

72

80

Aaron L Ballard

67

74

Robert L Kazarinoff

55

58

Clinton W Hansen

54

54

Michael R Engebritson

54

58

Others

244

298

Total

1761

1968


Top Engineer Firms

Ada
Engineer FirmLots - ResidentialLots - Total

KM Engineering, LLP

960

1127

J-U-B Engineers, Inc.

796

920

Civil Innovations, PLLC

553

635

RiveRidge Engineering Company

400

440

Engineering Solutions, LLP

389

441

Bailey Engineering, Inc.

373

429

CK Engineering, PC

338

388

B & A Engineers, Inc.

261

312

Civil Site Works LLC

174

191

Land Group, Inc. (The)

111

152

Others

1156

1382

Total

5511

6417

Canyon
Engineer FirmLots - ResidentialLots - Total

J-U-B Engineers, Inc.

487

543

Bailey Engineering, Inc.

302

326

T-O Engineers, Inc.

219

242

Horrocks Engineers, Inc.

100

103

Rock Solid Civil LLC

94

107

CK Engineering, PC

77

88

KM Engineering, LLP

67

80

Leavitt & Associates Engineers, Inc.

59

63

WHPacific, Inc.

49

56

Breckon Land Design Incorporated

48

55

Others

259

305

Total

1761

1968


Record Of Survey

Ada
Surveyor FirmSurveys

Accurate Surveying & Mapping, P.C.

64

Fox Land Surveys, Inc.

56

Idaho Survey Group, LLC

52

Marks Land Surveying, Inc.

30

KM Engineering, LLP

26

Sawtooth Land Surveying, LLC

24

B & A Engineers, Inc.

23

Tealey's Land Surveying

23

Land Group, Inc. (The)

19

Skinner Land Survey Co., Inc.

18

Others

135

Total

470

Canyon
Surveyor FirmSurveys

Skinner Land Survey Co., Inc.

107

Eagle Land Surveying, LLC.

27

David Evans and Associates, Inc.

25

Mason & Associates, Inc.

25

Sawtooth Land Surveying, LLC

24

Timberline Surveying PLLC

22

Idaho Survey Group, LLC

20

T-O Engineers, Inc.

19

Compass Land Surveying, PLLC

16

Fox Land Surveys, Inc.

16

Others

103

Total

404


CPF

Ada
Surveyor FirmSurveys

Sawtooth Land Surveying, LLC

27

Idaho Survey Group, LLC

16

Fox Land Surveys, Inc.

12

Accurate Surveying & Mapping, P.C.

10

Ada County Highway District

9

J-U-B Engineers, Inc.

8

KM Engineering, LLP

8

Civil Survey Consultants, Inc.

6

T-O Engineers, Inc.

6

Al's Pin Pounders, LLC

5

Others

17

Total

124

Canyon
Surveyor FirmSurveys

T-O Engineers, Inc.

38

Sawtooth Land Surveying, LLC

32

Idaho Survey Group, LLC

21

Skinner Land Survey Co., Inc.

13

David Evans and Associates, Inc.

12

KM Engineering, LLP

8

Horrocks Engineers, Inc.

7

Fox Land Surveys, Inc.

7

J-U-B Engineers, Inc.

6

WHPacific, Inc.

3

Others

7

Total

154


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