St Louis New Home Construction Trend Cools Slight But Activity Increases in St Charles and Jefferson County

The new home construction trend in St. Louis during January slowed just a bit with a total of 4,426 new home permits being issued for the 12-month period ended January 31, 2020, a slight decline of about 1% from a year ago when there were 4,447 permits issued, according to the latest data from the Home Builders Association of St. Louis & Eastern Missouri.

As the table below shows, 5 of the 7 counties covered in the report saw a decline in new home permits from a year ago.  Two of the three counties with the most new home activity, St Charles County and Jefferson County, both saw double-digit increases in permit activity from the prior 12-month period.

  

St Louis New Home Building Permits – January 2020

St Louis New Home Building Permits - January 2020

 

St Louis Area New Home Construction Continues To Decline In Most Areas

For the 12-month period ended April 30, 2019, there were building permits issued for 757 new homes in St Louis County, a decline of 22.80% from the prior 12-month period, according to the latest data from the St Louis HBA.  As the table below shows, St Charles County saw a decline of 6.38% during the same period. In February of this year, only two counties showed a downward trend in building permits, but in March that grew to 4 counties and for April, 5 of the 7 counties we are reporting on, show a decline in new home building permits. Warren County continues to show growth and an upward trend in new home construction with an increase of 20.07% in building permits during the most recent 12-month period from the prior 12-month period.

  

St Louis New Home Building Permits – April 2019

St Louis New Home Building Permits - April 2019

New Home Construction Trend In St Louis Is Down In St Louis and St Charles Counties

For the 12-month period ended February 28, 2019, there were building permits issued for 785 new homes in St Louis County, a decline of 21.11% from the prior 12-month period, according to the latest data from the St Louis HBA.  As the table below shows, St Charles County saw a decline of 13.05% during the same period however the other counties reported on by the St Louis HBA are all showing increased new home building activity for the period.  From a percentage standpoint, Warren County saw the biggest increase at 30.04%.

  

St Louis New Home Building Permits – February 2019

St Louis New Home Building Permits - February 2019

New Home Construction In St Louis Area Trending Upward In Most Areas – St Charles County Sees Decline

New home construction in the St Louis area is off to a good start for 2018 with a total of 326 building permits for new homes being issued during January for the 7-county St Louis area reported on by the Home Builders Association of Eastern Missouri.  This permit activity in January represents an 11% increase over the activity in January 2017 when there were 293 new home permits issued.  During the month of January 2018, 4 of 7 counties saw an increase in building permits from January 2017 (Jefferson County +26%, Franklin County +143%, Warren County +1%, St Louis City +371%) while the remaining 3 saw declines (St Louis County -25%, St Charles County -10%, Lincoln County -29%).

It takes more than a month for a trend…

Just like I often comment with regard to home prices and sales, looking at a single month of activity really does not paint the whole picture and, while it may be a good “leading-indicator” of where things are headed, it’s not going to accurately depict a trend.  For this, I believe looking at the past 12-month period and comparing it to the prior 12-month period is more accurate.  It takes into account the seasonal fluctuations that occur and adjust for unseasonal weather during a given month that could skew the data if just looking at a one-month period.  The table belows the total building permits for the 12-month period ending January 31, 2018 and comparies that activity to the prior 12-month period for each of the 7-counties reported on.   As you can see, five of the counties have a double-digit increase in new home building permits issued from the prior 12-month period while St Charles County shows a double-digit decline, and Lincoln County a slight decline.

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New Home Building Permits- St Louis Area – January 2018

New Home Building Permits- St Louis Area - January 2018

New Home Construction On The Rise In Warren County And Other Outlying Counties

New home construction in the St Louis and surrounding areas for the first three quarters of this year is up slightly from the same time last year, according to the latest permit data from the Home Builders Association of Greater St Louis.  However, as the table below shows, only 4 of the 7 counties reviewed had an increase in building permits while the other three, including the county with the greatest number of building permits, St Charles County, saw a decline.

 

St Louis Area New Home Building Permits – Year to Date Through September 30, 2017

St Louis Area New Home Building Permits - Year to Date Through September 30, 2017

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St Louis area new home building permits on pace to beat 2011

saint-louis-real-estate-dennis-normanSt. Louis building permits issued for new homes continues on track to out perform 2011 in the largest counties in the area, according to a report just released by the Home Builders Association of St. Louis & Eastern Missouri.  According to the report, the counties of St Louis, St. Charles and Jefferson have all seen more single-family building permits issued YTD (through July) in 2012 than in 2011, and Franklin county is only 2 permits shy of where they were in 2011 at the same time. Continue reading “St Louis area new home building permits on pace to beat 2011