Johnson County’s housing market was relatively stable in May, but one indicator of future sales activity surged, according to the latest monthly survey by the County Economic Research Institute.
Building permits for new single-family homes climbed nearly 30 percent in May from the same month a year ago, the report said. There were 153 construction permits issued during the month, boding well for the remainder of the year.
Two other key indicators of the county’s housing market threw off mixed signals.
The average price of new and existing homes climbed nearly 5 percent in May to $273,400. The average new-home sales price was $429,100, while existing homes sold for an average of $255,700, the report noted.
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However, the number of homes sold in the county in May fell nearly 9 percent to 1,079 from May 2013. The survey said 110 new homes sold in the month, while 969 existing homes sold.
Year-to-date through May, the number of homes sold was down 4 percent.
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