June 2022 Residential Statistics Report

June 2022 Residential Statistics Report

Metro Single Family Home Starts Down 16% YTD

Metro Kansas City new-home construction has decreased 16 percent year-to-date compared to the first six months of 2021. According to statistics compiled by the Home Builders Association of Greater Kansas City (KCHBA), 3,238 single-family homes were permitted by this time last year, while 2,715 permits have been issued as of June this year.

For the first time since June 2020, both single-family starts and permits fell below a one million annual pace, according to the National Association of Home Builders (NAHB).

“It’s not surprising that new permits slowed in the face of high inflation and an unpredictable interest rate environment,” said Will Ruder, executive vice president of the KCHBA. “And it’s not that fewer people want or need a newly built home, it’s that their buying power has been significantly curtailed by a higher cost of living and elevated construction costs. As markets adjust to the current economic conditions we’re experiencing, city leaders should adopt a more collaborative approach to the home building industry if they truly want to see a greater diversity of housing product and prices. There is a lot of pent up innovation in the home building space and we’re hopeful that more of the communities we serve see us as the resource that we are.”

For the month of June, Raymore issued the most permits at 119, and Kansas City, Mo., issued the second most permits with 84. Rounding out the top five were Overland Park with 39 permits issued, Belton with 34 permits issued and Blue Springs with 33 permits issued in June.

Click here to view the June 2022 Residential Statistics Report.

Additional Info

Media Contact : Kari English, kari@kchba.org

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