Housing Experienced Significant Growth in 2012

Housing Experienced Significant Growth in 2012

Kansas City, MO – January 17, 2012 – (RealEstateRama) — Single family housing experienced significant growth in 2012 over 2011 and reached the highest number since 2007 according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. The year ended up 43 percent over last year with 3,299 compared to 2,301 in 2011. Including multi-family units the total for 2012 was 4,948 compared to 2,901 in 2011 for a 71 percent increase.

Kansas City, Missouri led the metropolitan area with a total of 998 residential units in its three-county reach. Of those, 611 were single family units and 387 were multi-family. Overland Park followed with 583 total units which included 353 single family and 230 multi-family. Next was Olathe with 457 total units all from single family. The total growth was distributed fairly evenly among the top counties including Johnson County with 37 percent, Jackson County with 19 percent, Clay and Platte counties each with 13 percent, and Wyandotte County with 10 percent.

“As we look back, 2012 seems to be the turning point to a modest recovery for the Kansas City housing market,” said HBA Executive Vice President Sara Corless. “Our statistics show that 2009 through 2011 were the lowest in thirty years. The last time Kansas City permitting activity was below 3,000 single family units was in 1982. These numbers are a bright spot for the homebuilding industry and home buyers.”

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