April Maintains Momentum in New Home Construction
WASHINGTON, D.C. – May 16, 2014 – (RealEstateRama) — The eight county Kansas City metropolitan area recorded 441 single family building permits during April, bringing the year-to-date total to 1,304 according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. The monthly average of 326 through April of 2014 exceeds the monthly average during the first four months of 2013, making the first third of 2014 the most active since 2007. Area multi-family permits continue to correspond with national trends of increased apartment building with 1,159 units permitted through April.
“Builders say home buyer traffic during the recent Parade of Homes was good and is evidence that the single family residential building recovery continues in 2014 in spite of the difficult winter and worries about rising interest rates and material prices,” said Executive Vice President Sara Corless. “A new commitment to hiring staff and marketing is obvious to industry leaders, as well as slightly improved access to credit–all of which points to 2014 continuing to improve for builders, their suppliers and subcontractors,” added Corless.
Residential building permits are almost evenly divided between Missouri and Kansas, with 654 issued in Missouri counties and 650 in Kansas locales. Kansas City, Missouri (Jackson, Clay and Platte counties) continues to be the top permitting city with 232, followed by Olathe with 174, Overland Park with 142 and Lee’s Summit rounding out the top five with 80.
Click here for the April Residential Permit Statistics Report.