The landproDATA Newsletter is published quarterly, tracking people and places you're interested in across the land development industry in Idaho.
With 1,520 new residential construction permits issued in during 2020 Q2, new home construction declined 25% across the Treasure Valley as compared with the same quarter of 2019. On a monthly basis, April and May were most notably impacted, with an uptick to more expected levels in June at various agencies. However the reduced supply of new homes continued to drive median prices up on both new and existing homes.CONTINUE READING
With 1,788 new residential construction permits issued versus 1,867 new subdivision lots recorded during 2020 Q1, another minor replenishment of vacant lots provides reprieve to the intensive housing demand that has steadily chipped away at our outstanding vacant lots supply.CONTINUE READING
During Q4, 1,739 new residential construction permits were issued versus 1,956 new subdivision lots recorded, which means 2019 Q4 finally delivered a quarterly surplus of 217 lots. But for the whole of 2019, 5,623 new lots vs. 7,397 permits means there was a total annual deficit of -1,774 vacant residential lots for the year across the Treasure Valley. Thus we begin 2020 with only about 85% of the lots supply compared with one year ago at 2018 Year End.CONTINUE READING
With 1,875 new residential construction permits issued versus 1,542 new subdivision lots recorded, 2019 Q3 delivered another deficit of -333 residential lots. As a result, the outstanding vacant lots supply dwindled further still to just under 6,200 residential lots in the Treasure Valley. Contrast this with four years ago, when there were nearly 9,000 oustanding vacant lots and construction was only 60% of current activity levels. It is also noteworthy that focus shifted toward building in Canyon county, where 2019 Q3 permits increased 47% over 2018 Q3, whereas Ada permits only increased 2.7% year-over-year.CONTINUE READING
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.CONTINUE READING
With 1,752 new residential construction permits issued versus 974 new subdivision lots recorded during 2019 Q1, the brief replenishment of vacant lots experienced at the end of 2018 was almost immediately tapped with a net reduction of 778 residential lots since January 1st. At this point, any new construction activity is following directly on the heels of the development process.CONTINUE READING
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.CONTINUE READING