WASHINGTON, D.C. – (RealEstateRama) — Permits for new single family residential building reached the highest one-month total since October 2007 with 537 permits issued during March, according to the Home Builders Association of Greater Kansas City’s (HBA) monthly Residential Building Permit Statistics report. The 537 single family permits issued in March brings the year’s first quarter total to 1201 single family units compared to last year’s first quarter number of 893—an increase of 34%. Multi-family permitting continues to be active, with 825 units in March and 987 for the first three months of the year. Click here for the March 2016 Residential Statistics
Counties with the largest increase in permits issued are Clay County (up 28%), Platte County with an 89% increase, Johnson County at a 43% increase and Wyandotte County up more than 100%. Much of this activity is centered in especially active subdivisions: Villas of Stonebridge (Wyandotte County), Highlands of Northview, Kemp Estates and Rock Creek (Clay County), and Terrybrook Farms (Johnson County).
“The first quarter of 2016 has exceeded expectations for permit activity,” said Executive Vice President Sara Corless, “but builders are feeling confident as they work to increase inventory levels for new home buyers. Reports are beginning to indicate that the older millennials are ready to start families and buy homes—this will allow current home owners to move up to the new home market.”
April has been designated New Homes Month by the National Association of Home Builders, which coincides with the HBA’s Spring Parade of Homes. The Spring Parade will showcase 347 new homes throughout the metropolitan area from April 23 through May 8.
Source: Home Builders Association of Greater Kansas City
