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. Choice between a democrat and a question mark? Take the question mark. We have all seen what the democrats will do.

  2. Its easy to blame workers. What about the Management of the Mill. Its not smart in business to not have a back up plan. Workers are afforded sick days in most cases. Union or not. Whether drunk partying, or a real sickness. Why would you as a businessman/woman not have a rotation of workers incase this happens. This is not an exclusive union protection. If the company can prove bad intentions on the part of any union employee. They can take action. Most CBA's have a 3 strike policy. Just like most Non-union company policies. You should read a CBA sometime. There are protections for companies too. Unions understand that businesses need to make money. If they don't, the union's member won't have a place to work.

  3. My kids play hockey on the North side and we have been very happy with the youth program. More Ice would create more opportunity for kids to pay this great sport. With 3 rinks that would also create more figure skating opportunities. What better gift to give your kids than a sport they will love!

  4. Naah, only Indy place fans were robbed of seeing Zanardi race. CART fans saw his amazing talents just about every weekend. And F1 fans saw him too. Zanardi didn't care he wasn't at Indy, neither do 99.18% of other race fans world wide. And CART fans are quite pleased of the domination of their drivers and owners have had at Indy, in the IRL, and in the current Indycar series....almost 99.18% of the time since 2000 Indy 500. I respect Zanardi, but his life goes on without Indy. Sucks to be you Capt.

  5. So let me get this right: gun permits online are fraud proof, but voting is as easy as 1-2-3.--But at least we agree that someone without a photo ID cannot be trusted with a gun.

ADVERTISEMENT