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Permit Reports
Single-Family
Permits Hit Record Mark For October
Local single-family
home-building permit activity reached
record levels in October, jumping
36 percent last month versus October
2001, according to figures compiled
by the Home Builders Association
of Greater Kansas City (HBA). A
total of 903 single-family permits
were issued metrowide last month,
the largest number of permits issued
in October on record. The previous
high mark for the month October
was 872 permits issued in 1999.
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October
Permit Reports
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Residential
Building Permit Statistics
- Excel
| PDF
Single-family
Detached Residential Building
Permits Report - Excel
| PDF
Permit information
is compiled by the Home Builders
Association
of Greater Kansas City.
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The number of single-family
permits issued year-to-date is up 15 percent
compared to same period in 2001. This
year's permit activity is just 4 percent
off the pace set during 1999, the busiest
construction year on record in Kansas
City. A total of 8,377 single-family permits
have been issued this year compared to
7,255 during the first 10 months of 2001.
"It sounds like a broken
record when talking about the pace of
single-family home-building activity,"
said Tim Underwood, HBA Executive Vice
President. "It seems that we are
in record-setting territory nearly every
month."
Underwood said the Federal
Reserve Board's to cut the federal funds
rate one-half point earlier this month
will no doubt help sustain the local home-building
market.
"Interest rates have
certainly been the driving force behind
this run-up in the housing market,"
Underwood said. "The Fed's move on
interest rates is an indication that mortgage
rates will likely remain low for now.
Builders and developers will remain cautious,
however, against an inventory build-up
in the event that economic conditions
worsen."
Kansas City, Mo., remained
the top-permitting city year-to-date with
1,312 permits issued through October.
Olathe is second with 1,071, followed
by Lee's Summit with 734.
Rounding out the top-permitting
cities for the month are Overland Park,
650; Shawnee, 378; Independence, 316;
Lenexa, 286; Raymore, 262; Leawood, 234;
and Grain Valley, 233.
The Home Builders Association
of Greater Kansas City (HBA) is the voice
of the housing industry and the source
for housing information. Comprising more
than 1,000 member companies, the HBA represents
an industry that contributes more than
$2.5 billion to the Kansas City economy
and supports more than 36,000 jobs in
the Greater Kansas City metropolitan area.
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