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Permit Reports
Local Residential
Permits Down 12 Percent in September
Greater Kansas City new-home construction
slipped 12 percent in September,
according to statistics compiled
by the Home Builders Association
of Greater Kansas City (HBA). A
seasonally adjusted total of 436
single-family housing units were
permitted metrowide in September,
down from a revised total of 493
units permitted in August. |
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September
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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September’s permit
activity was the lowest monthly total
recorded so far this year and is another
indication that home builders are committed
to reducing new-home inventories, according
to HBA Executive Vice President/CEO Tim
Underwood.
“
We’re continuing to see a positive
pattern of new-home closings outpacing
starts and a decline in overall new-home
inventories,” Underwood said. “The
lower permit totals are expected as builders
continue to make reducing inventory the
primary concern.”
September’s permit totals marked
a 41 percent decline from September 2006.
New-home permits for the year to date
are down 35 percent from 7,587 units
a year ago to 4,949 units through the
first three quarters of 2007.
While Underwood
said last month’s
move by the Federal Reserve to lower
key interest rates and the prospect of
future rate cuts should infuse optimism
into the housing sector, he said improvement
in the broader regional economy will
be needed to boost consumer confidence
in housing.
“
The combination of low rates and competitive
prices are great news for homebuyers,” Underwood
said. “But our metropolitan region
continues to perform below expectations
in terms of job growth, household income
and economic development. During the
last decade housing has played a critical
role in boosting the local economy. Now
is a time when we need the economy to
improve so consumers feel more comfortable
taking advantage of the competition prices,
low mortgage rates and new housing choices
available in the Greater Kansas City
region.”
Kansas City, Mo., leads
the list of top-permitting cities with
991 single-family homes permitted
year to date through September. Olathe
ranks second with 490 units, followed
by Lee’s Summit with 411. Rounding
out the top 10 are Overland Park, 299
units; Kansas City, Kan./Wyandotte Co.,
270; Blue Springs, 195; Shawnee, 186;
Gardner, 181; Grain Valley, 178; and
Lenexa, 172.
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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