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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCentral Indiana homebuilders enjoyed a year of strong demand in 2024, with applications for new homes rising 26% over the previous year.
The tough part about that success, however, might be duplicating it.
Builders filed 662 single-family building permits in the nine-county area in February, a decrease of 4% compared with the same month of 2024, according to the latest statistics from the Builders Association of Greater Indianapolis, or BAGI. It was the second straight month of declining filings on a year-over-year basis following a streak of 19 straight months of rising applications.
So far in 2025, 1,362 permits have been filed overall in the area, down 3% from the 1,411 that were filed in the first two months of 2024.
The National Association of Home Builders said housing starts were down significantly in the Midwest in February due to economic uncertainty and inclement weather.
New CEO
BAGI this week welcomed its first new CEO in 29 years after the retirement of Steve Lains. Chris Hancock, the executive director of the Indianapolis-based Fraternal Housing Association, has taken the helm of the nonprofit trade association.
“I am honored to step into this role at BAGI,” Hancock, the former CEO of ZealCo LLC, said in written remarks. . “Homebuilding plays a crucial role in the economic development and interconnectedness of our communities. I look forward to working alongside the staff, board, members, industry partners, and community leaders to build upon BAGI’s past success and continue driving positive impact for the industry.”
County-by-county filings
February single-family building permit filings by county and year-over-year change:
Hamilton: 228 (+1%)
Hancock: 100 (+104%)
Marion: 94 (-30%)
Hendricks: 62 (-46%)
Boone: 56 (-32%)
Johnson: 41 (+32%)
Morgan 38 (+100%)
Madison: 27 (0%)
Shelby: 16 (+45%)
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