Newsletter | 2019 Year

2019 Year Residential Statistics

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

New Year, Smaller Inventory

Review the 2019 Q4 Statistics here.

During Q4, 1,742 new residential construction permits were issued versus 1,956 new subdivision lots recorded, which means 2019 Q4 finally delivered a quarterly surplus of 214 lots. But for the whole of 2019, 5,623 new lots vs. 7,400 permits means there was a total annual deficit of -1,777 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.

Fortunately, Final Plat submittals (shown in gray, above) outpaced building permits activity almost all year. As a result, our data shows approximately 8,000-10,000 new lots in the development pipeline ready to come online within the next eighteen months. Meridian, Nampa, Boise, and Caldwell comprise about 75% of that estimate just between those four cities. So despite current inventory challenges, the mid-term future should deliver sufficient lots supply to support the pace of construction.

In landproDATA news, we are streamlining our collection of Developments submittals for all agencies, and also performing an extensive audit of our historical data in relation to project status and lot counts. The need for up-to-date information on land market fundamentals has never been more pressing, and for our part we aim to offer precise numbers on outstanding Final Plat lots, and even Preliminary Plat lots, within a few months' time.

Meanwhile, we have continued our geographic expansion of data services. As of now, we have Subdivision Plats, Records of Survey, and Corner Records mapped in Ada, Canyon, Gem, Payette, and Twin Falls counties, with Boise, Elmore, and Bonneville coming soon. If you have colleagues who perform work in these areas, we encourage you to refer them to register for a Free Trial today!