Demand for new homes in Indianapolis area stays on torrid pace

Area home builders are continuing to see strong demand for new homes, according to the latest numbers from the Builders Association of Greater Indianapolis.

Builders filed 738 single-family construction permits in the nine-county area in May, up 18 percent over the 626 permits that were filed in May 2017. It was the busiest May for permits since 2007, when 779 were filed.

Area filings have been on the rise in 28 of the last 30 months on a year-over-year basis.

On a year-to-date basis, permit filings are up 25 percent, from 2,497 in the first five months of 2017 to 3,110 during the same period this year.

Marion and Hamilton counties accounted for more than 55 percent of the permit filings in May.

Hamilton County led the area in filings with 259, an increase of 13 percent from May 2016.

Marion County saw a 39 percent increase in filings, from 112 to 156.

Hendricks County saw 92 filings in May, up 6 percent.

Filings slid 11 percent in Johnson County, to 74. They rose 44 percent in Boone County, to 52.

Permits were up 40 percent in Hancock County, to 70.

Filings rose from 10 to 19 in Morgan County and from 11 to 12 in Shelby County.

Madison County saw four filings, down from seven in May 2016.

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