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Permit Reports
Local Housing
Permits Hit Record High For August
Single-family new
home construction in Kansas City
continued at a torrid pace in August,
establishing a new record in permit
activity for the month, according
to statistics compiled by the Home
Builders Association of Greater
Kansas City (HBA). Local home builders
pulled 933 single-family permits
last month, eclipsing the previous
August record of 887 permits set
last year.
Activity in August
was down slightly from July and
June, which ranked as the second
and third busiest months for
local new home construction on
record
respectively. August also marked
the fourth straight month in
which new individual monthly highs
have
been reached. |
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August
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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A total of 7,317 single-family
permits have been issued in the eight-county
metropolitan area year to date, up 10
percent from the same period last year
and the most permits issued through August
on record.
The sharp rise in new home
activity came at the same time mortgage
rates began a steep climb of more than
1 percentage point between mid-June and
early September. The 30-year fixed-rate
mortgage roller coaster continued during
the past two weeks as the average rate
dropped back down nearly one-half point
according to Freddie Mac. The changes
in rates have prompted many new home
buyers to accelerate their purchases
to lock in at low rates, according to
the HBA Executive Vice President Tim
Underwood.
“Low mortgage rates
continue to help the housing industry
play a significant role in the standing
of the local economy,” Underwood
said. “While much of the local
economy has struggled, the housing job
market has remained strong and home sales
have spurred additional spending. With
mortgage rates remaining in check, we
are likely to see the housing industry
continue to lead the economic recovery.”
Further evidence of the
strength of the local housing economy
is the Parade of Homes, which annually
spotlights local home builders and the
housing choices available in Kansas City.
Produced by the HBA for more than 50
years, the Parade of Homes is the nation’s
second largest homes tour with 568 new
homes on this year’s parade in
the nine-county metropolitan area. The
parade run Sept. 28 through Oct. 12 with
homes open daily from noon to 7 p.m.
Kansas City, Mo., continues
to lead the metro area in single-family
new-home permits with 1,336 issued through
August. Olathe ranks second with 691
permits, followed by Lee’s Summit
with 585 and Overland Park with 564.
Rounding out the top10 permitting cities
through August are Shawnee, 407; Raymore,
308; Kansas City, Kan./Wyandotte County,
280; Lenexa, 244; Grain Valley, 242;
and Independence, 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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