After slowing down in March, new residential construction took off in April according to the US Census Bureau and the Department of Housing and Urban Development’s latest press release. Housing starts for privately-owned housing units rose by 20.2% compared to March and were 9.2% higher than same time last year. Regionally, the West saw a 39% increase in new privately-owned housing starts on a month-over-month basis. Year-over-year, new privately-owned housing starts in the West were up by 14.9%.
Housing completions for privately-owned housing also climbed in April. Compared to last month, completions were up by 20.4%. In the West completions grew by 13.9% over March and were 16.8% greater than in April 2014.
For more information on new construction in the Treasure Valley please feel free to contact me.