Single Family Permits Continue Upward Trajectory in July (July 2020)
Metro-wide housing starts continued to climb in July, according to statistics compiled by the Home Builders Association of Greater Kansas City (KCHBA). The organization reported a seasonally adjusted total of 493 single-family homes permitted in July, up 15 percent from a total of 420 homes permitted in June.
Click here to view the July 2020 Residential Stat Report.
The top three permitting cities in July were Kansas City, Mo., with 91; Lee’s Summit, Mo., with 41 permits; and Olathe, Kan., with 35 permits.
Although housing continues to be a strong driver of economic activity both locally and nationally, KCHBA is actively monitoring the availability and rising cost of building materials, particularly softwood lumber, which has caused the price of the average new single-family home to increase by $14,116 since April 17, according to the National Association of Home Builders (NAHB).
“Housing accounts for about 16 percent of the national GDP,” said KCHBA Executive Vice President Will Ruder. “This industry has both the desire and the ability to lead an economic recovery, but the extent to which we are able to do so will be greatly affected by the supply and cost of the necessary materials.”