Local New Home Permit Numbers Rebound in July (July 2019)
Metro-wide housing starts jumped up in July, according to statistics compiled by the Home Builders Association of Greater Kansas City (KCHBA). The organization reported a seasonally adjusted total of 471 single-family homes permitted in July, up 22 percent from a total of 387 homes permitted in June.
Click here for the July 2019 Residential Statistics Permit report.
The top three permitting cities in July were in Johnson County: 48 permits were issued in Olathe, Kan.; 38 in Shawnee, Kan.; and 34 in Overland Park, Kan. Blue Springs, Mo., and Spring Hill, Kan., rounded out the top five with 30 and 29 permits, respectively.
“The uptick in residential building permits issued in July is a positive sign that builder confidence is steady,” said KCHBA Executive Vice President Will Ruder. “The dip in interest rates coupled with the increase in builder permits indicate the housing market in Kansas City is on firm ground.”
Looking forward, there are signs nationally that conditions in the housing market should show continued modest improvement in the coming months. While the economic recovery has been uneven, it continues to add jobs, a key driver for housing market recovery, according to the National Association of Home Builders (NAHB). In addition, growing household formations indicate solid demand for single-family homes and rental apartment units.