Press Release: Thirty Five Percent Increase in New Home Construction

PRESS RELEASE

For Immediate Release
Alicia Naleid, Director of Communications
(608) 242-5151 ext. 13

Thirty Five Percent Increase in New Home Construction

Permit numbers not showing signs of building slowdown

 

April 22, 2021 – The latest single-housing permit numbers show that new home construction is up thirty five percent in the first quarter of 2021 compared to the first quarter of 2020. Compiled by the Department of Safety and Professional Services (DSPS), the data is required to be submitted to DSPS by all municipalities in the state.

Between January 1, 2021 and March 31, 2021, 2,626 new home permits were pulled in Wisconsin compared to 1,941 permits during the same time period in 2020, an increase of 35 percent. This news comes after a 10 percent increase in new home construction in all of 2020 compared to 2019.

“While we have heard from our members that business has been strong, these numbers are greater than even we anticipated given the rising cost of building materials and quarter one occurring during winter months,” said Wisconsin Builders Association (WBA) Executive Director Brad Boycks.

Other encouraging data has been released by the Department of Administration. In the first quarter of 2021, 67 plats and 1,404 lots were approved. These numbers are on track to surpass last year’s, as there were 201 plats and 5,340 lots approved in all of 2020.

“Historically low interest rates and a low inventory of existing homes have been huge factors in the number of new home building and remodeling projects,” said WBA President Abe Degnan. “While we need to see the cost of building materials come down as they are not sustainable for the industry, we are pleased they haven’t hindered the volume of overall homebuilding thus far.”

 

About the Wisconsin Builders Association

The Wisconsin Builders Association is a professional trade association comprised of 21 local associations dedicated to helping members build communities around the state. We advocate the interests of 4,000 home building industry members to keep housing affordable and accessible for Wisconsin families, Protecting the American Dream for over 70 years.

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Building Permit Numbers