The Wisconsin Builders Association (WBA) has reported a 3% increase in new home construction for the year 2023 compared to the previous year. According to data from municipalities across the state, 11,657 new home permits were issued between January 1 and December 31, which is approximately 300 more than in 2022. The fourth quarter alone saw a notable rise with 2,608 permits pulled, marking a 22% increase from the third quarter.
WBA President Jim Doering commented on this development: “We are pleased with the growth we’ve seen in 2023. 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.”
The counties of Grant, Lafayette, and Price experienced significant growth in building activity with increases of 79%, 72%, and 76% respectively. Conversely, Kenosha, Pepin, and Sawyer counties recorded declines in housing development.
Brad Boycks, WBA Executive Director, expressed optimism for future growth: “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.”
The Wisconsin Builders Association represents over 4,000 members within the home building industry across its 21 local associations. The organization advocates for affordable housing solutions throughout Wisconsin.
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