New home permits up 47 percent in St Charles County and 25 percent in St Louis County in 2012; It’s all relative though…

Saint Louis Realtor, Dennis Normanst-louis-real-estate-realtor-dennis-normanIt’s funny what you can do with stats….without any dishonesty (well, maybe a little deception) you can use statistics to paint just about any picture (or create any headline) you want. For example, we all know the new home market in St Louis, like the rest of the country,  has suffered tremendously since 2006 (perhaps I know this better than many) and it is improving but sometimes the media I think paints a picture that does not always convey the big picture.  For example, lets look at the following statements about building permit data for new homes in St Louis, all of which are based upon the same data from the HBA and all of which are true statements: Continue reading “New home permits up 47 percent in St Charles County and 25 percent in St Louis County in 2012; It’s all relative though…

St Louis area single-family building permits on the rise in March; on course to beat last year

dennis-norman-st-louis-building-permits-issued-march-2012-hbaThe Home Builders Association of St. Louis & Eastern Missouri just released their single family building permit data for March 2012 which shows an increase in activity from March 2011 for most of the St. Louis area.  St. Louis City and County both saw declines in permit activity with 6 permits fewer issued total for the two than the year before,  but this was more than made up for by St. Charles County increase of 38 permits which helped bring the total permits for the 7 St. Louis Counties covered by the HBA report to 260 for the month, an increase of over 36 percent from March 2011 when there were 191 permits issued. Continue reading “St Louis area single-family building permits on the rise in March; on course to beat last year

St Louis Area Single Family Building Permits Up over 12 Percent

According to information released by the Home Builders Association of St. Louis & Eastern Missouri (HBA), building permit activity in the St. Louis area through October of this year, is up over 12 percent from the same time last year. Continue reading “St Louis Area Single Family Building Permits Up over 12 Percent

St Louis Area New-Home Building Permits Drop In April After Spiking in March

Dennis Norman

Dennis Norman

After seeing a spike in permits for new homes in St. Louis in March, with the exception of the City of St. Louis, all the St. Louis metro area counties saw a decline in new home permits in April, some rather steep based upon the latest data reported by the Home Builders Association of St. Louis (HBA).

Existing home sales data and mortgage application data have suggested that the April 30th deadline for the home-buyer tax credit caused an artificial surge in the housing market as buyers raced to beat the deadline to buy a home; it now appears the new home data is going to follow suit.

Highlights from the HBA report (April, 2010 New-Home Permit Data):

  • St. Louis County New Home Building Permits: 40, down 18.4 percent from March and just slightly behind April 2009.
  • St. Charles County New Home Building Permits: 140, down 31.4 percent from March and slightly ahead of April 2009.
  • Jefferson County New Home Building Permits: 59, down 33.0 percent from March but Up 20.4 percent from April 2009.
  • Franklin County New Home Building Permits: 18, down 33.33 percent from March, but up 100 percent from April 2009.
  • Lincoln County New Home Building Permits: 13, down 40.9 percent from March but up a staggering 333 percent from April 2009.
  • Warren County New Home Building Permits: 17, down 64.0 percent from March but up 112.5 percent from April 2009.
  • St. Louis City New Home Building Permits: 14, up 55.56 percent from March but down 26.32 percent from April 2009.

Year-t0-date New Home Permits Look Better For All Areas, except the City of St. Louis (all current ytd data is through April 2010):

  • St. Louis County YTD New Home Building Permits: 148, up 37.03 percent from the same time last year and down 22.51 percent from the same period in 2008.
  • St. Charles County YTD New Home Building Permits: 557, up 74.1 percent from the same time last year and up 8.2 percent from the same period in 2008.
  • Jefferson County YTD New Home Building Permits: 244, up 70.63 percent from the same time last year and down 7.5 percent from the same period in 2008.
  • Franklin County YTD New Home Building Permits: 62, up 14.8 percent from the same time last year and up 264.7 percent from the same period in 2008.
  • Lincoln County YTD New Home Building Permits: 54, up 145.5 percent from the same time last year and up 12.5 percent from the same period in 2008.
  • Warren County YTD New Home Building Permits: 79, up 216.0 percent from the same time last year and up 52.0 percent from the same period in 2008.
  • City of St. Louis YTD New Home Building Permits: 25, down  13.8 percent from the same time last year and down 46.8 percent from the same period in 2008.

The YTD numbers are getting the benefit of the spike in March so, going forward in “post tax credit times”, I think it is apparent that the momentum is going to slow which will cause the comparison to the prior two years to not look quite as positive.   I think May’s numbers will be very telling of the future.

 

New home building permits in St. Louis down 10 percent from a year ago; Multi-family permits down 54 percent

Dennis Norman

Dennis Norman

Not surprisingly, builders in St. Louis (those that have managed to survive thus far) are not racing out to build homes.  According to the latest data reported by the Home Builders Association of St. Louis, there were 228 permits issued in October for new homes in the St. Louis metro area (St. Louis City and the Counties of St. Louis, Jefferson, St. Charles, Franklin, Lincoln and Warren) down almost 19 percent from September when there were 281 permits issued. 

Year-to-date, through October 31, 2009, there have been 2,321 permits issued for new homes in the St. Louis metro area, down almost 10 percent from the same time in 2008 and down a whopping 51 percent from the same time in 2007 when 4,753 permits had been issued ytd.  Below are the numbers broken down by county:

Date source: Home Builders Association of St Louis

Date source: Home Builders Association of St Louis

The numbers are worse for building permits for multi-family buidlings with only 36 permits for multi-family dwellings being issued in October, which is actually a 125 percent increase from September when there were only 16 permits isued, however it only puts the St. Louis metro area at 309 permits year-to-date which is down 53.8 percent from the same time last year and down 63.2 percent from the same time in 2007.

Below are the numbers broken down by county:
Date source: Home Builders Association of St. Louis

Date source: Home Builders Association of St. Louis

New home starts and completions in July down from June; Permits are up

house construction new home construction

This morning the US Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for July 2009 showing a slight increase in new home construction activity from June in the U.S.

For the Midwest region of the U.S. the report showed the following: