In an interview with John Sowell of the Idaho Statesman, Corey Barton, president of Corey Barton Homes, Idaho’s biggest builder, said his company is aiming to build more this year as inventory remains low.
Barton says CBH is already at 400 closings for the year and has 500 homes under construction. “We're on target this year for between 1,200 and 1,300,” he says.
Here’s an excerpt from the interview on the Idaho housing market:
Q: Ada County Assessor Bob McQuade recently told us that housing starts are down. What are you seeing?
A: There's a low supply of homes available, and there hasn't been an abundance of people capable or available to enter the market to buy homes. As we get further and further away from the downturn, there's been more people coming into the market.
Some may have been too young after the downturn. Others may have had financial difficulties and lost their homes then, [and] who are now ready to buy again.
There's a low supply of inventory of houses, and there's a demand this spring for more houses. We have the ability to build, and we're putting a lot of pressure on ourselves to get more homes out there.
Last year, with the bad weather, we had 362 homes being built during the first four months of the year. This year, we had 471 homes. And because of better weather, we're way ahead on those homes than we were last year.
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