July 2022 Residential Statistics Report

July 2022 Residential Statistics Report

2022 Permit Numbers Continue to Lag 2021 Activity Level

With 439 single-family units permitted during July, the year-to-date total of 3,151 is 15 percent lower than the same time period in 2021, according to the Home Builders Association of Greater Kansas City’s (KCHBA) monthly Residential Building Permit Statistics report. During the first seven months of 2021, 3,718 permits were issued for new single-family homes.

Similarly, new home sales are down nationwide 29.6% from a year ago and new home sales in July fell 12.6 percent to their lowest level since January 2016, according to the National Association of Homes Builders (NAHB).

"The rapid rise in interest rates brought about by the Federal Reserve’s aggressive action aimed at curbing inflation has certainly affected the confidence of home buyers and sellers alike," said KCHBA's Executive Vice President Will Ruder. “The Kansas City region is an attractive destination for businesses and families. In order to stabilize the cost of new homes for both current and future residents, cities and counties across the metro should avoid erecting costly new barriers to more housing supply.”

Kansas City, Mo., recorded the highest number of permits in July with 95 in its three-county reach. Grain Valley had the second highest number of permits issued with 46 units. Spring Hill and Olathe tied for third with 40 single-family permits issued and Lee’s Summit and Overland Park tied for fourth place with 29 single-family permits issued in each city in July.

Click here to view the July 2022 Residential Statistics Report. 

Additional Info

Media Contact : Kari English, kari@kchba.org

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