Second Quarter New Home Construction Down Slightly
PRESS RELEASE
For Immediate Release
Alicia Naleid, Director of Communications
(608) 242-5151 ext. 13
Second Quarter New Home Construction Down Slightly
Quarter Two and Year-to-Date Numbers Consistent
August 17, 2023 – The latest new home construction numbers released by the Wisconsin Builders Association (WBA) show the number of new home starts is down nearly seven percent from both quarter one of 2023 and year-to-date compared to 2022.
The data, submitted by all municipalities across the state, shows 3,103 new home permits were pulled statewide between April 1 and June 30, just over 200 permits shy of those pulled in quarter one.
“Even despite the slight decrease from quarter one to quarter two, the industry is operating at or near capacity,” said WBA President Mike Howe. “Members across the state are still busy with high demand, likely caused by low existing home inventory.”
The National Association of Home Builders recently released single-family permits are down nationally nearly 21% from this time last year, with a decline in the Midwest region of 19%.
“We’re pleased that homebuilding is still strong across Wisconsin given the increased material costs, continued labor shortage, and high interest rates,” 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 70 years.