DATUM Newsletter - 2019 Q2


2019 Q2 Residential Statistics

Submitted
Final Plat
Lots*
Recorded
Subdivision
Lots
Building
Permits
Recorded
Surveys
Vacant
Lots
IDAda109672513391274584
IDCanyon7434266921241698

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

Ada County Construction Peaked?

With 2,031 new residential construction permits issued versus 1,151 new subdivision lots recorded during 2019 Q2, the previous three months delivered another deficit of -880 residential lots. At this time, there is less than one year of outstanding inventory available for new home building. Unless an influx of new lots is injected into the marketplace via subdivision recordings, we are likely to see the pace of new home construction plateau for the medium-term future. Simply put, there are not enough new lots to support year-to-year acceleration in construction volumes.

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 probable that a surge of recorded plats in Q3 and Q4 will provide some catch-up during Fall and Winter. That said, it is evident that a dwindling supply of new lots continues to impact the Treasure Valley housing market. Land costs and development processes are more expensive, which has contributed to 5-7% year-over-year price increases on new homes despite higher annual construction volumes. Meanwhile, sales prices on existing homes are seeing even greater appreciation at 8-12%, but fewer homes are being listed. The implication is that despite a seller's market delivering higher offers, current homeowners are largely opting to stay put.**

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

In our 2019 Q1 analysis we postulated that New Residential building permits issued in Ada county during 2019 would have trouble surpassing the total issued in 2018 due to a dwindling supply of vacant lots. As it stands, the 1,339 permits issued during 2019 Q2 in Ada county fell short of the 1,352 for the same quarter in 2018.

Instead, 2019 Q2 volume shifted significantly toward Canyon county, where the availability of land yields improved affordability for developers, builders, and home buyers alike. Nevertheless, the delayed movement toward new projects in Canyon has also left Nampa and Caldwell a shrinking supply of vacant lots.

With waning daylight now cooling the construction season, we will see what planning and engineering efforts can do to alleviate diminishing lots before 2020 kicks off.

2019 Q2 Residential Lots
Submitted vs. Recorded vs. Permits

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


2019 Q2 Statistics

Top Builders

Ada
BuilderNew Residential Permits

Corey Barton Homes, Inc.

279

Toll Bros., Inc.

95

Hubble Homes, LLC

77

Brighton Homes

71

Blackrock Homes LLC

71

Unknown

44

Alturas Homes, LLC

37

Hunter Homes, Inc.

37

Amh Development, LLC

32

Riverwood Homes, Inc.

31

Others

565

Total

1339

Canyon
BuilderNew Residential Permits

Corey Barton Homes, Inc.

119

Hayden Homes Idaho, LLC

81

Hubble Homes, LLC

51

Envision Homes, Inc.

44

Toll Bros., Inc.

34

Perryman Construction Management Inc.

27

Amh Development, LLC

7

M R H Homes

7

Cotner Building Company, LLC

7

Jbi Elemental, LLC (3355049)

6

Others

309

Total

692


Top Surveyors

Ada
SurveyorLots - ResidentialLots - Total

Aaron L Ballard

185

211

Gregory G Carter

169

207

Robert L Kazarinoff

92

115

Darin A Holzhey

70

82

Cody McCammon

66

71

Carl Porter

65

74

James R Washburn

30

34

Kelly S Kehrer

28

29

John W Sharp

10

11

Travis P Foster

8

9

Others

2

13

Total

725

856

Canyon
SurveyorLots - ResidentialLots - Total

Gregory G Carter

150

166

Darin A Holzhey

67

73

Michael S Byrns

45

48

Joseph D Canning

42

44

Clinton W Hansen

40

44

Robert F O'Malley IV

39

41

Aaron L Ballard

38

43

Jeremiah B Fielding

4

5

Sean Patrick Sullivan

1

1

Steven J Frisbie

0

6

Others

0

0

Total

426

471


Top Engineer Firms

Ada
Engineer FirmLots - ResidentialLots - Total

KM Engineering, LLP

260

298

Mason & Associates, Inc.

70

82

Engineering Solutions, LLP

61

65

J-U-B Engineers, Inc.

45

65

Civil Site Works LLC

41

47

CK Engineering, PC

38

47

SITE Consulting, LLC

35

42

Breckon Land Design Incorporated

30

37

Land Group, Inc. (The)

30

34

Horrocks Engineers, Inc.

28

29

Others

87

110

Total

725

856

Canyon
Engineer FirmLots - ResidentialLots - Total

Bailey Engineering, Inc.

190

210

J-U-B Engineers, Inc.

45

48

B & A Engineers, Inc.

42

44

Mason & Stanfield, Inc.

41

44

T-O Engineers, Inc.

39

47

KM Engineering, LLP

38

43

Mason & Associates, Inc.

26

29

None

3

4

Others

2

2

Total

426

471


Record Of Survey

Ada
Surveyor FirmSurveys

Accurate Surveying & Mapping, P.C.

18

Fox Land Surveys, Inc.

15

Idaho Survey Group, LLC

15

Land Solutions, Land Surveying and Consulting, PC

9

T-O Engineers, Inc.

9

Tealey's Land Surveying

7

B & A Engineers, Inc.

6

Engebritson Land Survey, Inc.

6

Sawtooth Land Surveying, LLC

5

Civil Survey Consultants, Inc.

4

Others

33

Total

127

Canyon
Surveyor FirmSurveys

Skinner Land Survey Co., Inc.

33

Compass Land Surveying, PLLC

11

Eagle Land Surveying, LLC.

9

Mason & Associates, Inc.

8

Timberline Surveying

6

David Evans and Associates, Inc.

5

Fox Land Surveys, Inc.

5

Land Solutions, Land Surveying and Consulting, PC

5

T-O Engineers, Inc.

5

Sawtooth Land Surveying, LLC

4

Others

33

Total

124


CPF

Ada
Surveyor FirmSurveys

Ada County Highway District

10

Fox Land Surveys, Inc.

7

J-U-B Engineers, Inc.

4

Land Solutions, Land Surveying and Consulting, PC

4

Tealey's Land Surveying

4

Accurate Surveying & Mapping, P.C.

3

B & A Engineers, Inc.

3

Land Group, Inc. (The)

3

Sharp & Smith, Inc.

2

David Evans and Associates, Inc.

1

Others

5

Total

46

Canyon
Surveyor FirmSurveys

J-U-B Engineers, Inc.

16

Eagle Land Surveying, LLC.

13

T-O Engineers, Inc.

7

Skinner Land Survey Co., Inc.

5

David Evans and Associates, Inc.

4

Stricker Surveying PLLC

3

Fox Land Surveys, Inc.

2

Idaho Survey Group, LLC

1

Sawtooth Land Surveying, LLC

1

Others

0

Total

52


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