The number of single-family permits issued year-to-date is up 15 percent compared to same period in 2001. This year's permit activity is just 4 percent off the pace set during 1999, the busiest construction year on record in Kansas City. A total of 8,377 single-family permits have been issued this year compared to 7,255 during the first 10 months of 2001.

"It sounds like a broken record when talking about the pace of single-family home-building activity," said Tim Underwood, HBA Executive Vice President. "It seems that we are in record-setting territory nearly every month."

Underwood said the Federal Reserve Board's to cut the federal funds rate one-half point earlier this month will no doubt help sustain the local home-building market.

"Interest rates have certainly been the driving force behind this run-up in the housing market," Underwood said. "The Fed's move on interest rates is an indication that mortgage rates will likely remain low for now. Builders and developers will remain cautious, however, against an inventory build-up in the event that economic conditions worsen."

Kansas City, Mo., remained the top-permitting city year-to-date with 1,312 permits issued through October. Olathe is second with 1,071, followed by Lee's Summit with 734.

Rounding out the top-permitting cities for the month are Overland Park, 650; Shawnee, 378; Independence, 316; Lenexa, 286; Raymore, 262; Leawood, 234; and Grain Valley, 233.

The Home Builders Association of Greater Kansas City (HBA) is the voice of the housing industry and the source for housing information. Comprising more than 1,000 member companies, the HBA represents an industry that contributes more than $2.5 billion to the Kansas City economy and supports more than 36,000 jobs in the Greater Kansas City metropolitan area.