The Sconi

The latest figures on new home construction for the year ending 2022 indicate a slight decline compared to 2021. According to data collected from municipalities across the state, there were 11,326 permits issued statewide between January 1 and December 31. This marks a decrease of just three percent from the 11,711 permits issued in 2021.

"We're pleased with these year-end numbers, after a slow start the first half of the year," said Wisconsin Builders Association (WBA) President Mike Howe. "At the culmination of the second quarter, we were down 24 percent compared to the second quarter of 2021, so to recover from that so quickly is great news for the industry."

Despite this slight decline, Wisconsin's figures remain above national averages. The National Association of Home Builders recently reported that single-family starts ended the year down more than ten percent nationwide, marking its first annual decline since 2011.

"Low mortgage rates in 2021 tremendously aided the home building industry, as they helped offset high material prices," stated WBA Executive Director Brad Boycks. "The interest rates of 2022 really impacted existing home sales, along with home building. Simply put, homeowners could no longer afford mortgages on homes they may have been able to afford just a year earlier."

The Wisconsin Builders Association is composed of local associations committed to supporting members in building communities throughout Wisconsin and advocating for affordable housing solutions.