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.
Hamilton, Johnson and Marion counties saw huge surges in single-family building permit filings in November.
For the first time since March 2021, every Indianapolis-area county reported growth in single-family building permit filings.
Six of the area’s nine counties had rising single-family building permit numbers last month, with big increases seen in Hendricks, Madison and Morgan counties.
Single-family building permit filings in central Indiana have fallen on a year-over-year basis for the past 17 months and in 20 of the past 22 months.
Demand for new houses in central Indiana continued to lag last year’s pace in March, but longtime housing hotbed Hamilton County broke out of its recent slump.
The local homebuilding industry continued to see a slump in demand for new houses in central Indiana in February.
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Filings for single-family building permits in central Indiana have fallen on a year-over-year basis for the past 13 months and in 16 of the past 18 months.
The industry had a tough time in 2022 following its busiest year since 2005 amid escalating mortgage rates and rising inflation.
Interest in new homes in central Indiana continued to slow dramatically last month, according to the latest statistics from the Builders Association of Greater Indianapolis.
Builders in the nine-county Indianapolis area filed only 457 single-family building permits in October, down a whopping 46% from 845 in the same month of 2021.
In a state-of-the-industry report released this week, the Builders Association of Greater Indianapolis predicted that new-construction home sales in the nine-county area would slow significantly through 2023.
Applications for newly built houses are continuing to trail last year’s pace in central Indiana, but homebuilders remain busy, according to the Builders Association of Greater Indianapolis.
Single-family building permits have fallen on a year-over-year basis for the past three months and in six of the past eight months.
Supply-chain issues, labor shortages and a lack of suitable lots are holding back sales, according to the Builders Association of Greater Indianapolis.
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.