Central Indiana homebuilding permits take July plunge

Area home builders struggled to find new buyers for homes in July, according to the latest permit numbers from the Builders Association of Greater Indianapolis.

Builders filed 392 single-family construction permits in the nine-county metropolitan area in July, BAGI said Tuesday. That's a 17-percent decrease from July 2014 and a 26-percent plunge from last month.

Area permit filings have fallen on a year-over-year basis in three of the past four months. Year-to-date filings are now at 3,031 through July, down 4 percent compared with the first seven months of 2014, when 3,150 permits were filed.

“I believe the record-breaking wet weather we experienced last month coupled with the shortage in lot availability are major contributors to the dip in July permit numbers,” BAGI CEO Steve Lains said in a written statement.

Filings were down 59 percent in Marion County, from 95 in July 2014 to 39 in July 2015. Filings are down 1 percent in the county for the year.

Filings rose 3 percent in Hamilton County, from 160 to 164, but are still down 1 percent on the year.

Hendricks County saw a 10-percent increase in permits, from 63 to 69.

Permits dropped 15 percent in Johnson County, from 53 to 45.

Filings increased from 26 to 32 in Hancock County, a rise of 23 percent.

Filings dropped 32 percent in Boone County, from 28 to 41.

Fewer than 10 permits each were filed in Shelby, Madison and Morgan counties in July.

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