U.S. homebuilders are feeling more optimistic than they have in months, looking past a recent slowdown in new home sales and the risk of rising labor and materials costs.
Overall, single-family construction permits in the nine-county area are up 7 percent so far this year compared with the first eight months of 2016.
King Park Development Corp. is partnering with two builders on the project, known as Monon16, to bring a mix of affordable and market-rate housing to the up-and-coming King Park area.
Filings to build new homes in central Indiana hit their highest monthly level in nearly 10 years last month, according to the latest numbers from the Builders Association of Greater Indianapolis.
Filings for new homes in central Indiana rose 3 percent in April—marking the 20th monthly increase in demand over the last 24 months.
Demand for new homes in central Indiana bounced back in March after an off month in February.
After more than a year of experiencing rising demand for new homes, Indianapolis-area builders had an off month in February.
But South Bend-based Holladay Properties is about to test the demand for new housing priced in the $200,000 range on the former campus of the west-side Central State Hospital.
The 2016 permit number marks the fifth straight year of rising sales, but still pales when compared with the single-year high for permits in this century.
The Boone County town has a population about a quarter the size of neighbor Zionsville, but new single-family housing permits filed for Whitestown have outpaced Zionsville’s since 2014.
Onyx + East is planning a mix of condo flats, townhouses and row houses at the three locations, two of which should see construction activity within a few months.
Downtown Indy has launched IN_fill, Designed to the Core, calling on Indiana architects to design a single-family home that can be built on an urban lot for $225,000.
Permit filings through November have already exceeded the number filed in all of 2015 and surpass the total of any single year since 2007.
Area home builders saw surging demand for new homes for the 11th month in a row in October, the Builders Association of Greater Indianapolis reported Wednesday.
Home builders filed 462 single-family construction permits in the nine-county area last month month, a 15 percent increase over the 403 they filed in September 2015, the Builders Association of Greater Indianapolis said.
Single-family construction permit filings have risen locally on a year-over-year basis in 12 of the last 13 months.