Year-To-Date Regional Home Building Activity Rises Nearly 30 Percent (May 2016)
June is National Homeownership Month and Kansas City homebuilders are celebrating by continuing their brisk pace of single-family construction in May, with 502 single-family permits issued. Year-to-date permit activity in the metro area rose 29 percent, with permits recorded for the first five months of the year totaling 2,223, according to the Home Builders Association of Greater Kansas City’s monthly Residential Building Permit Statistics report. All eight counties in the region reported an increase in residential permit activity in the first five months of 2016. Click for the May 2016 Residential Permit Statistics
“The housing market is especially active heading into summer with solid new home sales numbers. The good news for homebuyers is that it’s a nearly balanced market for new homes,” HBA Executive Vice President Sara Corless said. “That means buyers should be able to find what they want and builders are finishing new homes daily after depleting inventory.”
The most recent permit report shows growth in all eight metro-area counties and reflects a strengthening housing sector that helps create personal wealth while boosting local economies, according to the National Association of Home Builders. The NAHB is touting the job creation and revenue-generating aspects of the housing market as part of National Homeownership Month in June. According to NAHB, every 1,000 new homes built translates into almost 3,000 jobs.
National Homeownership Month also celebrates the community benefits of owning a home.
“Once a person invests in a home, they double-down on their community investment as well by getting involved in schools, churches and neighborhood activities,” Corless added. “Those are the intangible benefits of homeownership that improve lives, neighborhoods and regions.”