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

Home construction ticks up amid harsh weather

March 18, 2014

The central Indiana home-construction industry saw a small uptick in business in February, the Builders Association of Greater Indianapolis reported Tuesday.

Homebuilders filed 379 single-family building permits in the nine-county metro area in February, BAGI said. That’s up 3.6 percent from the 366 that were filed in February 2013.

February’s numbers followed a stagnant January that saw only 300 permits filings, compared with 303 in January 2013.

This year’s unusually tough winter took a toll on business, according to Steve Lains, CEO of BAGI.

“The harsh weather remains a huge factor in our February permit numbers but the numbers remain strong,” Lains said in a prepared statement. “Market analysts predict a steady increase in permit activity in 2014, and I suspect once we see a rise in temperatures, we’ll see the predicted uptick in our numbers …”

Year-over-year filings dropped 3 percent in Marion County in February, from 63 to 61.

They rose 1 percent in Hamilton County, to 162; 29 percent in Hendricks County, to 49; and 11 percent in Johnson County, to 41. Hancock County saw filings double, from 14 to 28.

Shelby County went without a permit filing for the third straight month.










 

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