November Home Permits Relatively Strong in Jackson and Johnson Counties
Jackson County in Missouri and Johnson County in Kansas continue to lead building permit activity and carry positive numbers for the year to date 2011over 2010, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. Blue Springs, Independence, Greenwood, Oak Grove, and Lee’s Summit are having a better year than 2010, but other cities have not fared as well.
Jackson County and the cities included in the county show a collective 12 percent increase year to date with a total of 427 units in 2011 versus 382 in 2010. Johnson County is on track for a slight increase with 4 percent growth in building permit activity through November. Most of the growth has occurred in Lenexa and Overland Park with no measurable increases in other Johnson County cities in 2011.
An economics report from the National Association of Home Builders based on census data indicates that Kansas City is the only growing market in Missouri or Kansas through the first ten months of the year with the exception of Columbia, Missouri. The same report indicates that Missouri statewide building permit activity was down 7 percent through October and Kansas activity was down 13 percent.
“With interest rates now available below 4 percent for qualified buyers, those on the sidelines should be considering a new home for spring,” said HBA Executive Vice President Sara Corless. “Many custom builders are beginning to sign contracts that will keep them busy into early 2012 and some builders report that they are adding new home inventory in time for the 50thanniversary of the Spring Parade of Homes in April 2012.”