Builder Confidence & Building Permits Climbing in 2017 (Feb. 2017)
February permits issued for home construction continue to indicate that local builders are off to their busiest year in the past decade, according to statistics compiled by the Home Builders Association of Greater Kansas City (HBA). A total of 469 single-family units were permitted last month, bringing the 2017 year-to-date total to 917 — the highest count for the January-February months since 2006.
Click February 2017 Residential Permit Stats for the report.
On a national level, builder confidence in the market for newly built, single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005.
And this growth is expected to continue. According to speakers at a recent HBA Kansas Area Council meeting, developers are purchasing available lots in outlying areas of the city at a fast pace, particularly in south Overland Park and western Shawnee, in an effort to build their inventories — and before the land is bought by someone else.
The HBA’s Spring Parade of Homes begins on April 22, with 380 new homes open to the public each day from 11 am until 6 pm. Parade guides will be available at the HBA (I-435 and Holmes) beginning April 17.
Permit activity remains highest in Kansas City, Mo. (152 permits in January and February), with most of Kansas City’s building in Clay and Platte counties. Lee’s Summit is considerably more active with 102 permits issued so far in 2017 as compared to 30 for the first two months of 2016. Likewise, Kansas City, Kansas/Wyandotte County has jumped from just 16 permits to start 2016 to a count of 101 during 2017. Olathe and Overland Park have also reported growth and these cities round out the top five for permit activity in the area.