`

Local builders see big surge in demand for new homes

December 15, 2016

Area home builders saw big jump in demand for new homes in November, marking the 12th straight month of rising permit filings, the Builders Association of Greater Indianapolis reported Wednesday.

Home builders filed 462 single-family construction permits in the nine-county area during the month, a 21 percent increase over the 382 they filed in November 2015, BAGI said.

So far, 2016 permit filings are 13 percent ahead of last year’s pace, with 5,401 in the first 11 months of the year, compared with 4,760 during the same period of 2015.

Permit filings through November have already exceeded the total number of 5,118 filed in all of 2015 and surpass the total of any single year since 2007, when 7,331 permits were turned in.

The current number still pales when compared with the single-year high for permits in this century: 15,054 in 2001.

Area filings have risen on a year-over-year basis in 15 of the last 16 months. The only decrease during that span was a 1 percent dip in November 2015.

Hamilton County, as usual, led the area in filings, with 172 last month, a 12 percent increase over the previous November.

Permit filings in Marion County were up 39 percent, with 85 filed last month.

Hendricks County saw an 88 percent increase in filings, to 77.

Filings were down 37 percent in Johnson County, to 36, and rose 52 percent in Hancock County, to 35.

In Boone County, filings increased 27 percent, to 38. Madison County saw filings rise from two to six.

Filings in Morgan County remained at nine. And Shelby County filings dropped from six to four.

 

ADVERTISEMENT

Recent Articles by IBJ Staff

Comments powered by Disqus