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Metro-area building activity dips in April

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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.
 

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  1. I think the poster was being sarcastic and only posting or making fun of what is usually posted on here about anything being built in BR or d'town for that matter.

  2. Great news IRL fans: TURBO the IMS sanctioned movie about slugs running the Indy 500 has caught the Securities and Exchange Commission because Dreamworks had to take a $132MILLION write down...because the movie was such a flop. See, the Indy/IMS magic soiled another pair of drawers. Bwahahahahahaha! How's CARTOWN doing? HAHAHAHA...Indy is for losers.

  3. So disappointed in WIBC. This is the last straw to lose a good local morning program. I used to be able to rely on WIBC to give me good local information, news, weather and traffic on my 45 minute commute.Two incidents when I needed local, accurate information regarding severe weather were the first signs I could not now rely on WIBC. I work weekend 12 hour nights for a downtown hospital. This past winter when we had the worst snowfall in my 50 years of life, I came home on a Sunday morning, went to sleep (because I was to go back in Sunday night for another 12 hour shift), and woke up around 1 p.m. to a house with no electricity. I keep an old battery powered radio around and turned on WIBC to see what was going on with the winter storm and the roads and the power outage. Sigh. Only policital stuff. Not even a break in to update on the winter storm warning. The second weather incident occurred when I was driving home during a severe thunderstorm a few months ago. I had already gotten a call from my husband that a tornado warning was just southwest of where I had been. I turned to WIBC to find out what direction the storm was headed so I could figure out a route home, only to find Rush on the air, and again, no breaking away from this stupidity to give me information. Thank God for my phone, which gave me the warning that I was driving in an area where a tornado was seen. Thanks for nothing WIBC. Good luck to you, Steve! We need more of you and not the politics of hatred that WIBC wants to shove at us. Good thing I have Satellite radio.

  4. I read the retail roundup article and tried Burritos and Beers tonight. I'm glad I did, for the food was great. Fresh authentic Mexican food. Great seasoning on the carne asada. A must try!!! Thanks for sharing.

  5. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

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