Rising home construction and car sales show strength of Idaho’s economy

Idaho’s economy is slowly but steadily moving forward, and two key indicators support that fact: new home construction, and car sales.

“If you look at 2014 from January to May, we had 37 new dwellings valued at about $3.5 million,” said Reginald Fuller an Idaho Falls City building official. “In 2015, we’re looking at January to May with 68 new single-family dwellings valued at $7.4 million.”

Home construction is especially helpful to the economy. Money from construction tends to stay in the local economy longer, and cycles through several times more verses other spending categories such as big box retail.

Another factor showing the strength of the local economy is car sales, both new and used.

Idaho Falls used car dealership Timberline Auto said its benefited from the improving local economy.

“Well on a percentage basis, last year was up about 40 percent for us,” said Scott Johnson, the owner of Timberline Auto. “And this year we’ve already seen a 30 percent increase over last year’s numbers.”

Johnson says people are more confident in their jobs and are more willing to make bigger purchases like a car.

Across the country, both home and car sales are on the upswing.