HIGH HOUSE SALES MIRROR NATIONAL OWNERSHIP TREND

The district economy continues to operate at what appears to be full capacity.Home sales continue to be strong throughout most of the district, and year-to-date residential building permits are above their year-earlier levels.In Cape Girardeau, home sales -- new and existing -- have averaged more than 40 a month this year. Jackson home sales have averaged 20 a month. Toss in other county home sales, and the grand total for the year is 675, through October.Missouri and Cape Girardeau residents are keeping pace with national statistics in home ownership.America's home ownership rate rose to a record high during the third quarter of 1999, with 67 percent of all families owning their own homes. Missouri home ownership tops the national percentages, at 68.6 percent. And, Cape Girardeau County is not far off that pace. A year ago, Cape Girardeau city statistics revealed that out of about 16,000 residential units, about 56 percent owned their own homes. Countywide, that percent soared to more than 63 percent, out of more than 25,000 residential units.During the first 10 months of 1999, 675 more home owners joined the list, with about a third of those being new homes.City permit officials say Jackson could reach record proportions in new home permits this year. Nine-month totals showed 105 new residential starts, averaging more than $135,000 per start. In Cape Girardeau, about 70 new residential starts have start have been reported by permit officials.Average sales prices of all homes sold this year have soared in Jackson, where officials report the average cost -- new and existing -- has been $108,900. That figure is about $12,000 higher than the average home sold in Cape Girardeau this year ($908,450.).Census statistics reveal that residential rental properly in the Cape Girardeau area is usually 90 to 95 percent leased, with an average 7.8 percent vacancy rate.During the past month, permits have been issued for more than 40 units of rental property in Cape Girardeau, including six four-family buildings and two eight-unit-buildings. Permits for three two-family duplexes were also issued. Total costs of the 467 units is about $2.4 million.Most areas throughout the nation report that only labor shortages and higher cost of supplies have slowed residential building.A total of 70.5 million American families now own their home homes, the highest total in American history.Recent statistics, released by the Housing and Urban Development (HUD) offers a breakdown in home owners:n 58 million white.n 6.1 million African American.n 4.2 million Hispanic.n 2.2 million Asian America and Native American.In all, said Andrew Cuomo, secretary of HUD, 8.7i million more families owned homes this year, than a half-dozen years ago, in 1993, when the home ownership rate was about 64 percent."The strong economy is unlocking the door to home ownership for millions of families," said Cuomo. "It's making the American Dream' of home ownership a reality."The Midwest area of the nation is one of the highest in home ownership, at 73.5 percent, well above, the national average. Other area home ownership percentages include 69.3 percent in n the south; 63.6 percent in the northeast and 60.8 percent the west.Suburbanites area the largest group of homeowners in larger cities, where only 50 percent of the people own their own homes. Suburbanites own 76.7 percent of homes in these area.

HOME SALES

New and existing home sales in the immediate Southeast Missouri area:* Cape Girardeau, 429* Jackson, 199* Other Cape County sales, 47* Scott City, 34* Other Scott, Bollinger, Perry county sales, 49Total: 758