Kansas City Area Homebuilders Post Best November in Eight Years (Nov. 2015)
Kansas City area homebuilders had their best November since 2007, with 15 percent more single-family permits issued than in November of 2014. The Home Builders Association of Greater Kansas City reports 360 single family permits were issued last month, compared with 312 permits issued in November 2014. Click here for the Permit Statistics Report.
Year-to-date, overall single-family home permits are up 8 percent and are on track to reach 4,500 for the year, hitting an eight-year high.
“The November housing permit report for Kansas City offers fresh evidence that the housing recovery is in full swing. The HBA expects homebuilders in the region will continue to build inventory throughout the winter months, weather permitting,” said Sara Corless, HBA executive vice president.
Nationally, housing starts rose 10.5 percent for the best reading since January 2008. U.S. multifamily production rose 16.4 percent to 405,000 units. “The November gains in both single- and multifamily starts show that the overall market continues to move forward,” said NAHB Chairman Tom Woods, owner of Woods Custom Homes in Blue Springs, Mo. “As builders anticipate more consumer demand for housing, they should continue to add inventory.”
Johnson County led the region with 123 single-family housing permits issued in November, followed by Jackson County with 72 permits issued and Clay County with 51 permits.
NAHB Chief Economist David Crowe said the housing recovery should continue at a modest pace into 2016. “Single-family production this month has reached levels last seen before the Great Recession, an indicator that we are making gradual headway back to a normal housing market,” said NAHB Chief Economist David Crowe. “As we close out the year, we can see that the housing sector has made headway in 2015, and we expect the recovery to continue at a modest pace.”