2014 First Quarter New Home Construction Maintains 2013 Activity Level
March 2014 residential permit statistics indicate a small increase over 2013 for the same quarter last year, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. This year’s first quarter recorded 863 single family units compared to last year’s first quarter number of 832—an increase of 4%. The January through March 2014 permit count extends the trend of surpassing each year since 2007. Multi-family construction continues to see large increases over the prior five years, with 832 units permitted in the first quarter of 2014.
Activity of note for the quarter is that while Johnson County accounted for 47% of total permits in the first quarter of 2013, that percentage has decreased to 36% in 2014. The Missouri counties of Clay, Jackson, Cass and Platte increased to 52% of area permits, as compared to 41% last year. The top five permitting cities year-to-date for both 2014 and 2013 are: Kansas City, Missouri, Olathe, Overland Park, Lee’s Summit and Kansas City, KS/Wyandotte County.
“The Johnson County activity is not a surprise given the buildable lot supply and pricing, but with the arrival of better weather, builders and developers will be working hard to quickly meet the demand,” said Executive Vice President Sara Corless.
April has been designated New Homes Month by the National Association of Home Builders (NAHB), which coincides with the HBA’s Spring Parade of Homes. The Spring Parade will showcase 377 new homes throughout the metropolitan area from April 26 through May 11. Click March 2014 Permit Statistics for the March report.