Sales declined 2.4 percent in July, to a 412,000 annualized pace, the fewest since March and weaker than economist predictions.
Growing demand for high-end, low-maintenance living is fueling an apartment-building boom in Indianapolis’ northern suburbs—and raising concerns among some leaders about the risks of adding too much too fast.
On a year-over-year basis, home-construction permit filings in the nine-county area have risen in 13 of the last 16 months.
The central Indiana home-construction industry saw its second straight month of improving activity in March following a bitter winter that slowed business.
Pricier houses are vanishing from the market faster than less-expensive homes due to a temporary bottleneck caused by rising demand and a slow recovery by builders.