November 15, 2012 – (RealEstateRama) — Housing production continues to climb in cities across the Greater Kansas City Metropolitan Area. The monthly graph is up and down, but the trends show the fourth quarter is off to a strong start as builders make plans for the winter months. Single family permits in October were 331, the best October since 2007. Multi-family housing production continues to climb in 2012 with the total unit number coming in at 277, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report.
“Builders are encouraged with national news that indicates an increasing number of households being created at the fastest rate in six years along with price appreciation that is now occurring for homes in many neighborhoods,” said Executive Vice President Sara Corless. “Builders are making decisions now while material costs and interest rates are favorable and create significant opportunities for buyers. All reports are that fall sales have been brisk and builders must prepare for spring buying activity. In addition to this activity, custom home builders, those who build to specific needs and wants of a client, are busier than they have been in several years. ”
Five counties have increased year to date in October with the highest increases in Platte County up by 109 percent, Clay County up by 75 percent, and Wyandotte County up by 74 percent, and Johnson County up by 43 percent. Top cities ranked by number of single family units year to date continue to be led by Kansas City with 534, though only 15 permits were pulled in October. Builders attributed the drop to uncertainty and costs associated with new building code that took effect October 1. Cities rounding out the top ten year to date include Olathe with 358, Overland Park with 313, Lee’s Summit with 224, Platte County with 130, Shawnee with 115, Lenexa with 105, Kansas City, Kansas with 89, Blue Springs with 80, and Leawood with 62.
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