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Metro home-building activity down in November

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Following three strong months of year-over-year increases, home-building activity in the Indianapolis area fell in November.

In the nine-county metropolitan area, the number of home-construction permits filed last month dropped to 225, a 13-percent decrease from the same month in 2010, according to the Builders Association of Greater Indianapolis.

Year-to-date, the number of filings through November is 3 percent below last year's pace. A total of 3,359 permits have been filed through November, compared with 3,455 during the first 11 months of 2010.

In Marion County, 41 single-family building permits were filed last month, a drop of 16 percent over November 2010.

Hamilton County registered a gain of 3 percent, or 96 permits.

The amount of permits filed last month decreased 4 percent in Johnson County and 41 percent in Hendricks County.

Without a better December, area residential builders could suffer their worst year in more than a quarter-century. 

Home construction has fallen dramatically since the first part of this century, when area permits topped 13,000 annually from 2000 to 2005, including a peak of 15,054 filed in 2001.


 

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  • More good news
    The area already has too many houses, which is good in that it keeps them affordable, but the downside is that it discourages investment in maintenance and upgrades which results in the oodles of deteriorated rundown neighborhoods throughout the area.

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