There were 4,825 building permits issued for new single-family homes in the St Louis area during 2021 which is 9 more permits than were issued in 2020, according to the latest data from the Home Builders Association of St. Louis & Eastern Missouri (St Louis HBA). For the past few years, St Louis has experienced a strong seller’s market due to the low supply of homes for sale.
This demand certainly seems to be something that would encourage builders to increase the number of homes being built significantly. However, there are many challenges facing St Louis builders today that prevents this. The challenges include a shortage of developed lots, or even ground in areas of demand, as well as increased construction costs, a result of regulatory issues, material prices and construction worker’s wages. If the builder can deal with the increased prices, then there are supply chain issues and labor shortages to deal with as well. Selling new homes is pretty easy today, the challenge is developing them.
St Louis New Home Building Permits -December 2021
