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

Home starts flat in frigid January

February 13, 2014
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Home construction in the nine-county metropolitan area was nearly flat in January, the Builders Association of Greater Indianapolis reported Thursday afternoon.

Homebuilders in central Indiana filed 300 single-family building permits last month, compared with 303 in January 2013.

BAGI CEO Steve Lains attributed the slight decline to the large amount of snowfall and frigid temperatures the area experienced last month.

“The recent weather has crippled our industry for the past four to six weeks, and I am not surprised to see the slight dip,” Lains said in a prepared statement. “My hope is that the weather subsides quickly and we can begin to see the steady increases market analysts are predicting.”

Hamilton County remains the area’s busiest for home starts, with 128 in January, nearly identical to the 127 filed the same time last year.

Marion County’s permit filings also fell slightly last month, to 45 from 49 in January 2013.

Permits were up 16 percent in Johnson County, to 51.

Filings dropped in both Boone and Hendricks counties, where fewer than 50 home starts were recorded last month.

 

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