Area homebuilders hope for better year after 2022 slump
The industry had a tough time in 2022 following its busiest year since 2005 amid escalating mortgage rates and rising inflation.
The industry had a tough time in 2022 following its busiest year since 2005 amid escalating mortgage rates and rising inflation.
The bill’s author—a homebuilder—says the fund would be a tool for Indiana communities to provide infrastructure for their housing needs, especially workforce housing.
A lung transplant recipient in November 2020, Estridge contracted a lung infection in recent days that his family said he could not overcome.
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.
The proposed Cyntheanne Woods subdivision would be developed on about 41 acres at the southeast corner of East 136th Street and Cyntheanne Road.
The Retreat at Morse development is expected to include attached single-family villas that would be built by Beazer Homes and cost an average of $400,000.
Single-family building permits have fallen on a year-over-year basis for the past nine months and in 12 of the past 14 months.
The construction of tens of thousands of rental homes could help rebalance the broader housing market. But critics say build-to-rent arrangements are exacerbating long-simmering inequalities by making homeownership even more elusive.
Rising mortgage rates, supply-chain issues, increasing costs and limited lot availability are hampering the market, according to industry experts.
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.
Builders are coming off their busiest year since 2005, but single-family building permits have fallen on a year-over-year basis in every month of 2022.
The Noblesville City Council heard proposals this week for two separate residential real estate developments that would create nearly 130 new residences in the city, including more 75 high-end homes near a golf course and 50 affordable-housing options.
Rising mortgage rates, supply-chain issues, increasing material costs and limited lot availability are hampering the market.
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.
Central Indiana homebuilders are coming off their busiest year since 2005, but January saw a big drop in single-family building permit filings.
Eight of the nine counties in the Indianapolis area saw a year-over-year increase in single-family building permit filings in 2021.
The recent slump has slowed what had been a torrid pace for the local home-construction industry. Permit filings are still easily on pace to have their biggest year since 2005.