May Brings Even Better News in Housing Permit Activity
In the last seven years the highest number of permits in the month of May was 971 in 2006 at the peak of the housing industry boom. During the same time span the lowest number of permits in May was 189 in 2009 at the lowest point of the housing industry decline. Today builders are enjoying the good news that permit activity continues to tick upward with May 2012 permits totaling 299 single family units coming on line in the Kansas City marketplace, according to the Home Builders Association of Greater Kansas City.
Activity was reported in each of the eight counties the HBA tracks. The growth shows an average increase of 62 percent from 2011. Platte County increased 138 percent with 77 units comparing 2012 to 2011. The market distribution is roughly the same as in 2011 with the top four cities ranking in order: Kansas City with 239, Olathe with 180, Overland Park with 136, and Lee’s Summit with 96. The top four counties ranked as follows: Johnson with 465, Clay with 251, Jackson with 221, and Platte with 133. The difference is Platte County has picked up a significant market share from 7 to 11 percent which represents a gain of 77 more permits this year.
“It has been a long five years for the homebuilding industry so news like this is encouraging,” said Executive Vice President Sara Corless. “Clearly we are not out of the woods, but we are on track to end the year ahead of the 2009 to 2011 trough and that is good news for new home buyers who have more options available.”