New Home Construction Increases in 2023
PRESS RELEASE
For Immediate Release
Alicia Naleid, Director of Communications
(608) 242-5151 ext. 13
New Home Construction Increases in 2023
Grant, Lafayette, and Price counties see the most growth
February 14, 2024 – The latest new home construction numbers released by the Wisconsin Builders Association (WBA) shows new home construction grew 3 percent in 2023 compared to 2022.
The data, submitted by all municipalities across the state, shows 11,657 new home permits were pulled statewide between January 1 and December 31, about 300 more permits than in 2022. In quarter four, 2,608 permits were pulled, 22% more than in quarter three.
“We are pleased with the growth we’ve seen in 2023,” said WBA President Jim Doering. “Easing interest rates have been helping spur the homebuilding industry, and we anticipate continuing to see an increase of construction as rates are expected to continue dropping this spring and summer.”
Grant, Lafayette and Price counties saw the most building uptick in 2023, with increases of 79%, 72%, and 76% respectively. The areas with the biggest lapse in housing were Kenosha, Pepin, and Sawyer counties.
“We are looking forward to continued home development thanks to not only a drop in interest rates which have been plaguing buyers, but the enaction of five new workforce housing programs through the Wisconsin Housing and Economic Development Authority that were passed and implemented through legislative efforts,” said WBA Executive Director Brad Boycks.
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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 75 years.