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Permit Reports
Metro Kansas
City New-Home Construction Dips
in October
Single-family new-home
permit activity slipped in October
ahead of key local and national
elections, according to statistics
compiled by the Home Builders Association
of Greater Kansas City (HBA).
Local
municipalities issued 849 single-family
building permits
in October, down 12 percent from
the October-record 968 permits
issued last year and also down
12 percent from the September-record
974 permits issued this year. A
total of 9,276 single-family permits
have been issued through October,
up
1 percent from last year’s
record pace of 9,224 permits. |
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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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While marking a decline
from the record set in October 2003,
last month’s new-home permit activity
was above the five-year average for the
month of October of 830 permits. The
decline was also much smaller than the
22 percent fall in October 2000 ahead
of the last presidential election.
HBA
Executive Vice President Tim Underwood
said October’s activity reflected
election year jitters from consumers
but also showed that builders are exercising
patience in new-home construction.
“A slowdown in activity ahead
of closely contested local, state and
national elections was not unexpected,” he
said. “Inventory levels across
the metro are strong, reducing the need
for speculative construction that might
otherwise boost permit totals. The activity
in October is very healthy for the local
housing market which will finish the
year near record territory once again.”
The largest growth in new-home
construction remains in smaller markets
and locations
where home prices are more appealing
to first-time and first-time move-up
buyers. The metro area’s three
largest housing markets in Johnson, Jackson
and Clay counties – which account
for more than 70 percent of new-home
construction in the region – are
down a collective 3 percent while the
remaining five counties are up 12 percent,
led by Miami County with a 66 percent
gain, Platte County up 15 percent and
Leavenworth County up 12 percent.
Kansas
City, Mo., remained the top city in new-home
construction activity through
October with 1,490 single-family permits
issued year to date. Olathe ranked second
with 848 permits followed by Lee’s
Summit with 793 and Overland Park with
745. Rounding out the top 10 were Kansas
City, Kan./Wyandotte County, 424; Shawnee,
389; Independence, 383; Raymore, 374;
Lenexa, 341; and Gardner, 335.
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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