Residential Permitting Forecasts Active Building in 2020 (May 2020)
Metro-wide single-family permits totaled 374 during May—leading to a five-month total of 2,076 units, according to statistics compiled by the Home Builders Association of Greater Kansas City (KCHBA). This year-to-date total is an increase of 28 percent over the same period in 2019.
The increase in building activity is spread throughout the eight-county metropolitan region, with the largest percentage increases in Cass and Wyandotte counties.
Multi-family construction also showed growth, with 1,202 units permitted in the first five months of 2020, compared with 1,094 during the same period in 2019.
In single-family activity, Kansas City, Mo., tops the “most active city” list with 348 permits issued (compared with 265 in 2019), followed by Olathe with 254, Belton at 172, Overland Park with 159, and Lee’s Summit with 151 permits.
Builders report that their homes on the Parade of Homes (June 13-28) are drawing numerous potential buyers. With continuing low interest rates and decreasing inventories for both existing and new homes, pent up demand for housing has led to a very active buying season.
Click here to view the May 2020 permit report.