WASHINGTON, D.C. — (RealEstateRama) — New residential permit activity in the Kansas City region slowed slightly during July but area builders are still on track for a 30% increase over 2015. Local cities and counties issued 494 permits for new single family units, bringing the year-to-date total to 3,322 according to the Home Builders Association of Greater Kansas City’s July Residential Building Permit Statistics report. Multi-family construction also continues to grow: construction activity from January to July rose 42 percent with 2,409 units permitted, compared with 1,706 units for the first seven months of 2015.
“Home builders are seeing a steady increase in consumer demand as interest rates remain low and both existing and new homes sell faster,” said HBA Executive Vice President Sara Corless. “Members of the Kansas City Home Builders Association are eagerly looking forward to the Fall Parade of Homes, which will feature over 300 hundred new homes open to the public beginning September 24th.”
Increased building activity is seen in all areas of the metro, with Kansas City reporting a 30% increase, a 29% increase in Olathe, 22% increase in Basehor, and a 64% increase in Kansas City Kansas/Wyandotte County. Of the ten busiest cities, five are in Missouri and five in Kansas. A year-to-date total of 2,236 units have been permitted in those cities with 55% in the Missouri locales and 45% in Kansas.
Source: Home Builders Association of Greater Kansas City
