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.
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The stock market dropped in 2022. So did the unemployment rate. Except in Indiana, where in both cases, the numbers crept up.
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Hancock, Boone and Hendricks experienced significant increases in single-family building permits.
Marion, Hendricks and Madison experienced significant increases in single-family building permits.
After a slow start to the year, central Indiana builders saw filings for new homes jump last month.
Meanwhile, the Builders Association of Greater Indianapolis this week welcomed its first new CEO in 29 years.
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.
U.S. housing starts slowed in September as a drop in multifamily projects outweighed a pickup in construction of single-family dwellings.
Six of the area’s nine counties saw a year-over-year increase in single-family building permit filings in October.
The pickup points to signs of budding optimism that the worst of the housing rout may be near.
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.
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.
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.
Central Indiana homebuilders saw another onslaught of interest from buyers in December, adding to their busiest year since before the Great Recession.
Builders in the nine-county Indianapolis area filed 694 single-family building permits in November, up 47% from the same month of 2019.
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.
After a slowdown in May, applications for home construction permits made a solid rebound in the Indianapolis area in June despite the pandemic.
Over the past decade, developers have proposed nearly a dozen new subdivisions within a couple of miles of the 146th Street and Towne Road intersection.
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.
The U.S. Commerce Department reported that builders started construction on 1.57 million homes, a decline of 3.6% from 1.63 million units in December. That had been the highest point since late 2006 at the peak of the housing boom of the last decade.
