Home Building Remains Steady into the Fall (Sept. 2014)
Permits for new single family homes are holding steady as home builders prepare for fall and winter construction, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. Three hundred, seventy-seven permits for single family homes were issued in September, an increase of 30 permits over August. Year-to-date total permits are the highest in seven years with 3,126 single family permits compared to 2013 with 3,093. Multi-family construction continues to grow, with 897 units permitted during September, bringing the year-to-date total to 3,168.
“With tight credit and strict mortgage lending obstacles faced by first time homebuyers, new home sales may have difficulty maintaining their upward track. However, changes reported as recently as this week by federal regulators may assist those same first time buyers going forward in 2015. Thank goodness for the help of very low interest rates and the Royals!” said Executive Vice President Sara Corless.
Kansas City continues to top the list of area cities in number of permits issued with 557; it is followed by Olathe with 412, Overland Park with 309, Lee’s Summit at 228 and Lenexa rounding out the top five at 161. Single family permits have been issued in nearly equal numbers by Missouri and Kansas counties, with Kansas accounting for 1584 and Missouri with 1542; multi-family activity reverses the order with 1660 in Missouri and 1508 in Kansas.
Click here for the September Residential Permit Statistics.