Residential Real Estate and Homebuilders and Housing Starts and Real Estate & Retail

Area homebuilding permit filings surge 41 percent

May 9, 2013
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Single-family building permits rose 41 percent in the nine-county Indianapolis area in April, the 10th straight month of year-over-year increases, the Builders Association of Greater Indianapolis announced Thursday.

Builders filed 496 permits in April, compared with 352 during the same month a year ago.

“Ten straight months of positive permit numbers is something the industry hasn’t seen since the start of the downturn five years ago,” said BAGI CEO Steve Lains in a prepared statement. “I am encouraged by the steady increase of homes being built and sold. That growth creates a positive economic impact for everyone in the region.”

Permit filings rose 16 percent in Marion County, from 61 to 71. Hendricks County saw filings jump 89 percent, from 37 to 70.

Filings increased 28 percent in Hamilton County, to 186, and 53 percent in Boone County, to 46. Filings were up 76 percent in Hancock County, to 30, and 30 percent in Johnson County, to 57.

Year-to-date, area permits are up 31 percent over the first four months of 2012, with 1,599 filed so far this year.

Despite vast improvement, building activity is still well below pre-recession levels. More than 3,600 permits were filed in the area during the first four months of 2006.
 

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