Growth Holds Steady in the Month of June
New home construction continues a steady upward trend that began in January 2012. Each consecutive month has shown improved numbers over the previous year for eighteen months. In addition, eight of the past twelve months have surpassed permit numbers in the years since 2008. Year-to-date, single family activity is 1,946. Compared to activity for the years 2008-2012, 2013 is reflecting a 50 percent increase over that timeframe’s average which was 1,297 permits, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. June recorded strong multi-family numbers as well with 252 units making a year to date total of 1,702 which is the highest six month total since 2001.
“Mid-year is a key measurement point for us in projecting where we will be by the calendar year end,” said Executive Vice President Sara Corless. “With interest rates gradually ticking up, builders expect an increasing number of buyers to continue their return into the market. In fact, the HBA’s Fall Parade of Homes is a traditional indicator of the level of single family construction and it, too, has more entries than any since 2008.”
Johnson County continues to issue the most permits with 793 year-to-date which is a 45 percent increase over 2012 numbers. Jackson County follows with 388 due to growth in Blue Springs and Lee’s Summit over 2012. Clay County is next with 305, followed by Platte County with 179.