A total of 8,254 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 September on record. The previous high for the first nine months of the year for single-family new home permits came in 1999 when 7,850 permits were issued. Permit activity is on pace to surpass the 11,000 barrier for the entire year, which would eclipse the record of 10,285 single-family permits also issued in 1999.

With mortgage rates continuing to hover around 6 percent for the average 30-year fixed-rate mortgage, conditions should remain favorable for homebuyers through the remainder of the year, according to HBA Executive Vice President Tim Underwood. Yet with local new job creation still lagging, Underwood said other factors are contributing to the demand for new homes.

“Low mortgage rates are making it possible for more families to take advantage of the benefits of homeownership,” Underwood said. “While job growth has been slow, Kansas City is continuing to create new households and nationwide homeownership rates are rising fastest in the strongest demographic groups, particularly among buyers age 55-plus and young families under age 35.”

Kansas City, Mo., continues to lead the metro area in single-family new-home permits with 1,497 issued through September. Olathe ranks second with 749 permits, followed by Lee’s Summit with 657 and Overland Park with 646.

Rounding out the top10 permitting cities through August are Shawnee, 442; Kansas City, Kan./Wyandotte County, 341; Raymore, 332; Grain Valley, 282; Independence, 270; and Lenexa, 259.

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.