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

Homebuilders see second straight drop in permit filings

December 17, 2013

The central Indiana home-construction industry experienced its second straight month of declining permit filings in November, following a streak of 15 straight months of year-over-year increases.

Homebuilders filed a total of 317 single-family building permits in the nine-county metro area in November, a 2-percent drop over the same month a year ago, the Builders Association of Greater Indianapolis reported Tuesday. Permit filings were down 5 percent in October on a year-over-year basis.

Despite the monthly decline, BAGI said year-to-date numbers are up 18 percent over 2012. A total of 4,625 permits have been filed so far in 2013, up from 3,907 during the first 11 months of 2012.

This year's number has already exceeded 2012's full-year total of 4,182, which means the area will have its second straight year of homebuilding growth.

Hamilton County was the busiest county for homebuilding in November, with 135 permits filed, down 1 percent from a year ago.

Permits filings rose from 45 to 51 in Marion County, a 13-percent increase.

Hendricks County saw a 16-percent decline in filings, from 45 to 38. Permits rose 65 in Boone County, from 20 to 33.

Recent activity in central Indiana remain slow compared with pre-recession numbers. More than 930 permits were filed in the area in November 2005.
 

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