Homebuilding in the Kansas City area picked up the pace in April as low interest rates continue to benefit the housing market.
The Home Builders Association of Greater Kansas City reported that 436 building permits were issued last month in the eight-county metropolitan area. That’s up 44 permits from March.
Through the first four months of this year, 1,323 building permits have been issued for single-family homes, up from 1,304 for the same period in 2014, the association said.
The area’s home construction industry has experienced gradually increasing activity since 2013, and the trend is expected to continue in the coming months as long as the economy remains steady, said Sara Corless, the association’s executive vice president.
“With home equity improving and continued low interest rates, prospective buyers are turning out in greater numbers to shop for a new home,” Corless said.
Johnson County, which historically has been the area’s most active housing market, had a decline of 51 permits in April compared with the same month last year. However, the county still accounted for 35 percent of the activity last month.
Kansas City remained the top permit city, followed by Olathe, Overland Park, Lee’s Summit and Kansas City, Kan./western Wyandotte County.
Multifamily construction remained steady last month, with 1,138 permits issued.