Belton housing demand outpaces housing construction

by / 0 Comments / 154 View / April 8, 2019

By David Tuma, Publisher

 

 

Through the first four months of this year, the City of Belton is slightly down in sales tax dollars received from the state. Retail sales in December were up, but slow retail sales in October of last year have brought the numbers down. October sales receipts are received in November from the state. Belton’s tax receipts from the state were down 10 percent in November of last year.

 

 

Through the first quarter of the fiscal year, Belton has received $1,675,783 compared to $1,686,258 the previous year.

 

 

Hotel-motel tax receipts are up 15.2 percent with $40,858 received in the first three months. Housing permits are up 33 percent this year. So far, there have been 92 housing starts compared to 69 last year.

 

 

This uptick is during a slower part of the year for construction.

 

 

Median home list price averaged $229,633 through the first four months. The median home sale price is $203,488. Homes are selling fast once they hit the market. Even with a 33 percent increase in new home construction, the inventory of homes for sale is down 15.4 percent.

 

 

Water tap connection requests are up 73 percent through the first quarter of the year. In the first quarter, there have been 125 requests for connections. Compared to 106 in the entire year of 2014 that is an increase. Fuel prices are down 12 percent compared to last year.