Housing Starts in First Half of 2021 Show No Sign of Slowing Down
July 23, 2021 – The latest new home construction numbers continue to rise, with 38.1 percent more permits pulled between January 1 and June 30 this year compared to the same timeframe in 2020 according to a press release from the Wisconsin Builders Association.
The data, submitted by all municipalities across the state, show 7,008 permits were pulled in the first half of 2021 compared to 5,074 in the first half of 2020, an increase of 1,934. In quarter two alone there were 4,382 permits pulled, signifying the number of new home starts.
“The lack and competition of existing housing combined with low interest rates continue to play a huge role in the demand for new housing,” said Wisconsin Builders Association (WBA) Executive Director Brad Boycks. “Even despite the high costs of building materials, we are excited to see the building industry continue to thrive as it’s one that supports so many other industries across the state.”
In the first half of 2021, 97 plats and 2,413 lots were approved. These numbers are on track to surpass 2020 totals, as there were 201 plats and 5,340 lots approved last year.
“The number of new starts and approvals of plats and lots are very encouraging,” said WBA President Abe Degnan. “We have and continue to hope construction prices come down soon as it will continue to drive the positive upward growth of building.”
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. Lakeland Builders Association is a local association in the WBA.