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Area home-construction filings rise for 9th straight month

September 21, 2016

Area home builders saw rising demand for new homes for the ninth month in a row in August, the Builders Association of Greater Indianapolis said Wednesday.

Home builders filed 520 single-family construction permits in the nine-county area during the month, a 14 percent increase over the 456 they filed in August 2015, BAGI said.

So far, permit filings are 13 percent ahead of last year’s pace, with 3,979 in the first eight months of the year, compared with 3,532 during the same eight months of 2015.

Area filings have risen on a year-over-year basis in 12 of the last 13 months. The only decrease during that span was a 1 percent dip in November.

Filings this year have already surpassed the full-year counts for 2009, 2010 and 2011.

As usual, Hamilton County led the area in filings, with 190 last month, a 20 percent increase over the previous August.

Permit filings in Marion County were up 3 percent, with 77 filed last month.

Hendricks County saw a 42 percent increase in filings, with 91.

Filings were up 15 percent in Johnson County, to 60, and rose 5 percent in Hancock County, to 40.

In Boone County, filings were flat at 29. Madison County saw filings increase from nine to 12.

On a year-to-date basis, Madison County filings are up 38 percent, with 77 so far this year, compared with 56 during the same eight months of 2015.

“Development is beginning to happen in areas like Fortville, Pendleton and Greenfield, which are outside the typical growth areas we have seen in recent years,” said BAGI CEO Steve Lains in a written statement.  “The rising price points in our heavily populated counties are causing homebuyers to expand their search in order to find housing options that fit the average household income in the market.”

Filings in Morgan County dropped from 16 to 13. And Shelby County filings slipped from 15 to eight.

 

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