Area homebuilders optimistic after late-year surge in permit filings
After a dismal first half, applications for new home construction rose significantly during the last six months of the year in the nine-county area.
After a dismal first half, applications for new home construction rose significantly during the last six months of the year in the nine-county area.
Applications for new home construction in central Indiana have risen on a year-over-year basis for eight straight months.
The Indianapolis-area homebuilding industry continued to see rising interest in new houses in March, with applications for new-home construction increasing 18.5% on a year-over-year basis.
For the first four months of 2024, permit filings were up 44% compared with the same period of 2023.
However, the central Indiana homebuilding market has lost much of the velocity that characterized the first couple of months of 2024.
Permit filings had risen on a year-over-year basis for 11 straight months before June’s decrease.
While home construction hit a downturn nationally in July, builders continued to see growing demand for new homes in central Indiana.
This year’s Home-A-Rama Home Show, which gets underway Thursday in the Promontory of Zionsville neighborhood, features five high-end dwellings from five different builders.
Led by big surges in applications in Hancock and Johnson counties, demand for new homes in the Indianapolis area continued to grow in August.
Central Indiana residential builders are on pace to have one of their busiest years since the homebuilding boom that took place before the Great Recession.
Only one county in the nine-county Indy area reported a year-over-over decrease in single-family building permit filings in October.
Single-family building permits in the nine-county area have risen on a year-over-year basis for 17 straight months.
Central Indiana residential builders saw a surge in demand for new homes as 2024 came to a conclusion, making the year one of the strongest the industry has seen over the past two decades.
Single-family building permit filings in the nine-county area had risen on a year-over-year basis for 19 straight months prior to January.
Meanwhile, the Builders Association of Greater Indianapolis this week welcomed its first new CEO in 29 years.
Single-family building permit filings in the nine-county area were down significantly in March.
After a slow start to the year, central Indiana builders saw filings for new homes jump last month.
Single-family building permits in the nine-county area have increased in three of the first five months of 2025 on a year-over-year basis.
Marion, Hendricks and Madison experienced significant increases in single-family building permits.
Hancock, Boone and Hendricks experienced significant increases in single-family building permits.