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

Homebuilders see third straight month of rising demand

May 14, 2014

Home-construction activity in cental Indiana rose for the third straight month in April, the Builders Association of Greater Indianapolis said Wednesday morning.

Homebuilders filed 521 single-family building permits in the nine-county area during the month. That’s up 5 percent from the 496 filed in April 2013. It’s also a 14-percent increase from March.

Hamilton County saw the most activity in April, with 214 permits filed. That’s an increase of 15 percent over April 2013.

In Marion County, 61 permits were filed, a decrease of 10 percent.

Filings rose 1 percent in Hendricks County, to 71; 30 percent in Boone County, to 60; and 27 percent in Hancock County, to 38.

Filings fell 9 percent in Johnson County, to 52. They also dropped in Madison, Morgan and Shelby counties.  

On a year-over-year basis, permit filings in the area have risen in 13 of the last 16 months. Through the first four months of the year, 1,659 permits were filed in central Indiana, an increase of 4 percent over the same period of 2013.

Area home construction has slowly increased during the economic recovery, but is still well off the torrid pace seen prior to the recession. More than 3,640 permits were filed in the area during the first four months of 2006.
 

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