Newsletter | 2018 Year
2018 Year Residential Statistics
Submitted Final Plat Lots* | Recorded Subdivision Lots | New Residential Construction Permits | Recorded Surveys | Vacant Lots | ||
---|---|---|---|---|---|---|
ID | Ada | 5078 | 5538 | 7627 | 469 | 5517 |
ID | Canyon | 2486 | 1760 | 1868 | 405 | 2141 |
* Submitted Lots data may be delayed depending on each agency's reporting process.
Continued Vacant Lots Replenishment
Review the 2018 Q4 Statistics here.
With 2,207 new residential construction permits issued versus 2,206 new subdivision lots recorded during 2018 Q4, the replenishment of vacant lots continues with a net gain of -1 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 (source)
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
Builder - New Residential | Permits |
---|---|
Corey Barton Homes, Inc. | 794 |
Toll Bros., Inc. | 437 |
Boise Basin Electric, LLC | 264 |
Blackrock Homes LLC | 248 |
Brighton Homes | 223 |
Glenn Electric, Inc. | 194 |
Hayden Homes Idaho, LLC | 193 |
Powerhouse Electric, Inc. | 178 |
Franklin Building Supply Co. | 169 |
Hubble Homes, LLC | 152 |
Others | 4775 |
Total | 7627 |
Canyon
Builder - New Residential | Permits |
---|---|
Corey Barton Homes, Inc. | 580 |
Hubble Homes, LLC | 322 |
Hayden Homes Idaho, LLC | 77 |
Toll Bros., Inc. | 69 |
Perryman Construction Management Inc. | 60 |
Owner/Unknown | 42 |
Unknown | 36 |
Brookstone Custom Homes | 29 |
Sunset Homes Inc. | 26 |
Young American Homes, Inc. | 23 |
Others | 605 |
Total | 1869 |
Top Surveyor Firms
Ada
Surveyor Firm | Lots (Residential) | Lots (Total) |
---|---|---|
Idaho Survey Group, LLC | 1399 | 1593 |
KM Engineering, LLP | 993 | 1164 |
Land Solutions, Land Surveying and Consulting, PC | 902 | 1037 |
J-U-B Engineers, Inc. | 796 | 920 |
Sawtooth Land Surveying, LLC | 366 | 414 |
B & A Engineers, Inc. | 288 | 345 |
Tealey's Land Surveying | 140 | 160 |
Civil Survey Consultants, Inc. | 103 | 111 |
NV5 (formerly WHPACIFIC, INC.) | 88 | 103 |
Accurate Surveying & Mapping, P.C. | 79 | 93 |
Others | 384 | 510 |
Total | 5538 | 6450 |
Canyon
Surveyor Firm | Lots (Residential) | Lots (Total) |
---|---|---|
Idaho Survey Group, LLC | 522 | 580 |
J-U-B Engineers, Inc. | 412 | 454 |
T-O Engineers, Inc. | 217 | 240 |
Horrocks Engineers, Inc. | 100 | 103 |
John Austin Surveying, P.C. | 75 | 89 |
KM Engineering, LLP | 67 | 80 |
Land Solutions, Land Surveying and Consulting, PC | 54 | 54 |
Engebritson Land Survey, Inc. | 54 | 58 |
Sawtooth Land Surveying, LLC | 51 | 63 |
NV5 (formerly WHPACIFIC, INC.) | 49 | 56 |
Others | 159 | 191 |
Total | 1760 | 1968 |
Top Engineer Firms
Ada
Engineer Firm | Lots (Residential) | Lots (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. | 288 | 345 |
Civil Site Works LLC | 174 | 191 |
Land Group, Inc. (The) | 111 | 152 |
Others | 1156 | 1382 |
Total | 5538 | 6450 |
Canyon
Engineer Firm | Lots (Residential) | Lots (Total) |
---|---|---|
J-U-B Engineers, Inc. | 487 | 543 |
Bailey Engineering, Inc. | 302 | 326 |
T-O Engineers, Inc. | 219 | 242 |
CK Engineering, PC | 129 | 149 |
Horrocks Engineers, Inc. | 100 | 103 |
Rock Solid Civil LLC | 94 | 107 |
KM Engineering, LLP | 67 | 80 |
Leavitt & Associates Engineers, Inc. | 59 | 63 |
NV5 (formerly WHPACIFIC, INC.) | 49 | 56 |
Breckon Land Design Incorporated | 48 | 55 |
Others | 206 | 244 |
Total | 1760 | 1968 |
Record Of Survey
Ada
Surveyor | Surveys |
---|---|
Nathan J Dang | 49 |
Gregory G Carter | 32 |
Colleen Marks | 30 |
Timothy J Fox | 26 |
Patrick A Tealey | 23 |
Cody M McCammon | 19 |
Carl Porter | 17 |
Thomas J Wellard | 17 |
Joseph D Canning | 16 |
Aaron P Rush | 16 |
Others | 224 |
Total | 469 |
Canyon
Surveyor | Surveys |
---|---|
Thomas J Wellard | 109 |
Darin A Holzhey | 36 |
Kenneth H Cook | 33 |
Jeremiah B Fielding | 28 |
Sean Patrick Sullivan | 25 |
Richard A Gray | 14 |
Gregory G Carter | 12 |
Carl Porter | 11 |
Jeff Beagley | 11 |
Kevin Sorensen | 11 |
Others | 115 |
Total | 405 |
CPF
Ada
Surveyor Firm | CPFs |
---|---|
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 Firm | CPFs |
---|---|
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 |
Fox Land Surveys, Inc. | 7 |
Horrocks Engineers, Inc. | 7 |
J-U-B Engineers, Inc. | 6 |
NV5 (formerly WHPACIFIC, INC.) | 3 |
Others | 7 |
Total | 154 |
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