Newsletter | 2019 Q2
2019 Q2 Residential Statistics
Submitted Final Plat Lots* | Recorded Subdivision Lots | New Residential Construction Permits | Recorded Surveys | Vacant Lots | ||
---|---|---|---|---|---|---|
ID | Ada | 1135 | 725 | 1981 | 127 | 4584 |
ID | Canyon | 787 | 425 | 690 | 124 | 1698 |
* Submitted Lots data may be delayed depending on each agency's reporting process.
Ada County Construction Peaked?
With 2,671 new residential construction permits issued versus 1,150 new subdivision lots recorded during 2019 Q2, the previous three months delivered another deficit of -1,521 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 (source)
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.**
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 permits issued during 2019 Q2 in Ada county fell short of those 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
Builder - New Residential | Permits |
---|---|
Corey Barton Homes, Inc. | 279 |
Toll Bros., Inc. | 93 |
Hubble Homes, LLC | 77 |
Brighton Homes | 71 |
Blackrock Homes LLC | 71 |
Powerhouse Electric, Inc. | 58 |
Franklin Building Supply Co. | 48 |
Alturas Homes, LLC | 37 |
Hunter Homes, Inc. | 37 |
Icon Air, Inc | 34 |
Others | 1176 |
Total | 1981 |
Canyon
Builder - New Residential | Permits |
---|---|
Corey Barton Homes, Inc. | 119 |
Hayden Homes Idaho, LLC | 78 |
Hubble Homes, LLC | 51 |
Envision Homes, Inc. | 44 |
Toll Bros., Inc. | 34 |
Perryman Construction Management Inc. | 27 |
Sunset Homes Inc. | 7 |
Amh Development, LLC | 7 |
M R H Homes | 7 |
Cotner Building Company, LLC | 7 |
Others | 309 |
Total | 690 |
Top Surveyor Firms
Ada
Surveyor Firm | Lots (Residential) | Lots (Total) |
---|---|---|
Idaho Survey Group, LLC | 235 | 278 |
KM Engineering, LLP | 213 | 240 |
J-U-B Engineers, Inc. | 92 | 115 |
Mason & Associates, Inc. | 70 | 82 |
Sawtooth Land Surveying, LLC | 65 | 74 |
Land Group, Inc. (The) | 30 | 34 |
Sharp & Smith, Inc. | 10 | 11 |
NV5 (formerly WHPACIFIC, INC.) | 8 | 9 |
Civil Survey Consultants, Inc. | 2 | 3 |
Wellington Land Surveying, P.C. | 0 | 10 |
Others | 0 | 0 |
Total | 725 | 856 |
Canyon
Surveyor Firm | Lots (Residential) | Lots (Total) |
---|---|---|
Idaho Survey Group, LLC | 150 | 166 |
Mason & Associates, Inc. | 67 | 73 |
J-U-B Engineers, Inc. | 45 | 48 |
B & A Engineers, Inc. | 42 | 44 |
Land Solutions, Land Surveying and Consulting, PC | 40 | 44 |
T-O Engineers, Inc. | 39 | 47 |
KM Engineering, LLP | 38 | 45 |
Eagle Land Surveying, LLC | 4 | 5 |
Others | 0 | 0 |
Total | 425 | 472 |
Top Engineer Firms
Ada
Engineer Firm | Lots (Residential) | Lots (Total) |
---|---|---|
KM Engineering, LLP | 260 | 298 |
Mason & Associates, Inc. | 70 | 82 |
Engineering Solutions, LLP | 61 | 65 |
Breckon Land Design Incorporated | 50 | 58 |
J-U-B Engineers, Inc. | 45 | 65 |
Civil Site Works LLC | 41 | 47 |
CK Engineering, PC | 38 | 47 |
SITE Consulting, LLC | 35 | 42 |
Land Group, Inc. (The) | 30 | 34 |
Horrocks Engineers, Inc. | 28 | 29 |
Others | 67 | 89 |
Total | 725 | 856 |
Canyon
Engineer Firm | Lots (Residential) | Lots (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 | 45 |
Mason & Associates, Inc. | 26 | 29 |
None | 3 | 4 |
Others | 1 | 1 |
Total | 425 | 472 |
Record Of Survey
Ada
Surveyor | Surveys |
---|---|
Nathan J Dang | 11 |
Gregory G Carter | 10 |
Michael R Engebritson | 9 |
Timothy J Fox | 8 |
Clinton W Hansen | 8 |
Patrick A Tealey | 7 |
Kerry R Albright | 6 |
Steven J Frisbie | 6 |
Cody M McCammon | 5 |
Joseph D Canning | 4 |
Others | 53 |
Total | 127 |
Canyon
Surveyor | Surveys |
---|---|
Thomas J Wellard | 33 |
Richard A Gray | 9 |
Jeremiah B Fielding | 9 |
Kenneth H Cook | 9 |
Darin A Holzhey | 8 |
Sean Patrick Sullivan | 5 |
Michael R Engebritson | 5 |
Nathan J Dang | 3 |
Cody M McCammon | 3 |
Clinton W Hansen | 3 |
Others | 37 |
Total | 124 |
CPF
Ada
Surveyor Firm | CPFs |
---|---|
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 Firm | CPFs |
---|---|
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 |
Total | 52 |
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