The most recent permitting data compiled and released by MarketGraphics Research Group and the Zanola Company that further indicates that recovery – while at times painfully slow – is most definitely underway in the home building market in southwest Missouri. While 2010 certainly represented another painful year for those who make their living in residential construction, housing starts rebounded slightly from the record lows experienced in the area in 2009. Final numbers for the year still are being compiled, but through November 2010, the year-over-year increase in permitting for new homes was up by approximately 16% over the same first eleven months of 2009. And (even before any new housing starts for December are tallied), the first eleven months of 2010 already saw more new homes started than in all of 2010.
HBA members who wish to view the latest MarketGraphics permitting summary for southwest Missouri may do so by clicking here.
Permitting reports are made available to HBA members by virtue of an agreement made by the HBA with MarketGraphics Research Group and the Zanola Company more than a year ago. In late 2009, the HBA of Greater Springfield negotiated terms to make MarketGraphics Research available in this market. The move to provide consistent and accurate data, forecasts, and tracking has begun to help stabilize the local appraisal, lending and construction environment and to provide (for the first time) a detailed and accurate picture of the current and near future state of the local residential construction economy.
HBA members, by virtue of their membership, have access to this data by way of regular summary market update reports posted on SpringfieldHBA.com, and via on-site access to HBA library copies of full MarketGraphics data reports (issued three times per year). It is anticipated that, for certain HBA members, a more complete and detailed account and analysis will be required to meet their business needs. For these members, individual subscription, analysis and consultation options are available. To learn more about which MarketGraphics solution is right for your business, e-mail HBA CEO Matt Morrow.