IBJNews

Metro-area building activity dips in April

Back to TopCommentsE-mailPrintBookmark and Share

Permits filed for new-home construction in the Indianapolis area slipped in April, ending a two-month spike that had builders optimistic about a recovery.

Single-family building permits filed last month in the nine-county area totaled 352, a 2-percent decrease from April 2011, according to the Builders Association of Greater Indianapolis. Permit filings had risen 6 percent in March and 40 percent in February.

Despite the decline, building activity through the first four months of the year is stronger than it was during the same period a year ago. Through April, the number of area permits filed totaled 1,224, an 8-percent increase compared with the first four months of 2011.

“You’re seeing a market that is slowly creeping out of the bottom, and you’re going to have these little nuances that occur,” BAGI CEO Steve Lains said of the disappointing April. “Just like the economic recovery that everybody is getting nervous about, we’re all kind of watching and are cautiously optimistic.”

Hamilton County last month recorded 145 permits, the most of the metro-area counties, but saw a 4-percent decrease from April 2011.

In Marion County, builders filed 61 permits, just one more than they did last April.

Building activity fell significantly in Hendricks County, where 37 building permits were filed last month, a 37-percent decrease from April 2011. Last month’s drop in the county followed a strong March, in which permit activity increased 36 percent from March 2011.

Lains said he remains upbeat and expects activity for the entire year to be up between 5 percent and 10 percent from 2011.

“We’re comfortable and confident that things are moving in the right direction,” he said.

Though building activity is trending up in 2012, it’s still much weaker than it was five years ago before the housing market went into a severe tailspin. In the first four months of 2007, for instance, building permits totaled 2,456, twice the number through April of this year.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

ADVERTISEMENT