Home Building Maintains Activity Level (Aug. 2016)
The number of residential permits issued during August indicates that local builders will be working hard to replenish new home inventory, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. Area communities issued 530 permits for new single family residences during August, an increase of 36 from the prior month and 105 more permits than in August of 2015. The year-to-date total of 3,852 is 29% higher than 2015’s total through August. Multi-family permits are also setting a brisk pace with 3,062 units permitted during the first eight months of this year.
Click August 2016 Residential Permit Stats for the report.
“Our builder members reported an extremely busy spring/summer selling season and now they are planning for next year.” said Marcia Jurgens, Vice President of Administration. “We expect that the Fall Parade of Homes (September 24 through October 9) will further reduce the number of available homes and set the stage for home buyers interested in a new home in 2017.”
Each of the eight counties in the metro area have increased permit activity as compared to 2015 with notable growth in Cass County (up 245 permits), Clay County (increasing by 248 permits) and Johnson County up by 126 permits over last year. Kansas City, Missouri is the busiest municipality with 812 permits, followed by Olathe at 413, Overland Park with 312 and Lee’s Summit totaling 238.