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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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