So far this year, 4,676 single-family building permits have been filed in the nine-county Indianapolis area, up 49% over the first five months of 2020.
Builders in the nine-county Indianapolis area are seeing their busiest year since 2005 despite soaring lumber prices and snarled supply chains that have made it difficult to get products to complete new homes.
So far this year, 2,717 single-family building permits have been filed in the nine-county Indianapolis area, up 48% over the first three months of 2020.
February’s snowstorms failed to put a chill on demand for new homes in central Indiana, the Builders Association of Greater Indianapolis announced Wednesday.
Fresh off their busiest year since 2006, area homebuilders continued to see heavy interest from buyers in January, the Builders Association of Greater Indianapolis announced Wednesday.
Area homebuilders have made 7,181 single-family building permit filings through the first 10 months of 2020. That’s already more than they’ve filed in any full year since 2007.
Central Indiana builders saw a huge rush of business last month from people who want new homes, resulting in the biggest month for single-family building permit filings since August 2006.
A shortage of moderately priced single-family homes and pent-up demand stemming from the COVID-19 lockdown this spring have caused home prices to rocket higher.
Area new-home construction filings jumped 12% last month, marking the 11th time in the last 13 months that filings have risen on a year-over-year basis.
Applications for home construction permits rose 5% in the Indianapolis area in April, marking the ninth monthly increase in the past 10 months on a year-over-year basis.
Interest in buying new homes in central Indiana surged dramatically in the first quarter, before the affects of the COVID-19 pandemic began taking its toll on the economy.
A big December was not quite enough to make last year’s construction pace exceed 2018’s. It was the first year since 2011 that fewer single-family building permits were filed in the area than in the previous year.
Applications for home construction fell 15 percent in November, which means Indianapolis-area builders will need a huge December to match 2018’s numbers.
Single-family construction permits in the nine-county area have risen for four months in row on a year-over-year basis following seven straight months of declines.
