Demand for new homes in area rises again after slow month

Demand for new homes in central Indiana bounced back in March after an off month in February.

Home builders filed 614 single-family construction permits in the nine-county area in March, a 5 percent increase over the 585 they filed in the same month of 2016, the Builders Association of Greater Indianapolis reported Tuesday.

Demand had waned by 8 percent in February, snapping a 14-month streak of year-over-year increases, likely due to higher mortgage rates that have since fallen.

Marion County recorded 106 permit filings, down from 107 the previous March.

Hamilton County, as usual, led the area in permit filings, with 237 last month, a 10 percent increase over the year-ago period.

Filings were up 32 percent in Johnson County, to 74. Hendricks County filings dropped 12 percent, to 86.

Filings were down 9 percent in Boone County, to 42, and dropped 5 percent in Hancock County, to 39.

Madison County saw filings rise from three to 10. Morgan County saw 14 filings, up from 12 in March 2016.

Shelby County had six filings, the same as a year ago.

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