Builders in the nine-county Indianapolis area filed 408 construction permits in August, a 15-percent increase from the same month a year earlier, according to the Builders Association of Greater Indianapolis.
Builders in the nine-county area filed 373 construction permits in July, a 21-percent increase from the same month last year, according to the Builders Association of Greater Indianapolis.
Home builders filed fewer building permits in the nine-county Indianapolis area last month, but filings are still up through the first six months of 2012.
California-based Ryland Group Inc., the Indianapolis area’s third-largest home builder, said it bought the Indianapolis-area lots from Westport Homes.
In May, pending sales of existing homes in the Indianapolis area increased 7 percent from the same month last year while building permits for new construction rose 20 percent.
New-home construction in the Indianapolis area rebounded last month from a poor April to post a big year-over-year increase.
Duke Realty Corp. has retrenched at its massive Anson development in Whitestown—focusing on the most promising sections, rearranging some of its site plans, and letting land-purchase contracts expire on about 300 acres where development prospects are likely several years away.
Permits filed last month in the nine-county area totaled 352, a 2-percent year-over-year decrease. But activity through the first four months remains stronger than it was during the same time last year.
Pulte is tossing out the prior builder's playbook, which called for duplexes aimed at buyers 55 and older. Pulte rezoned the land to allow for single-family homes on larger lots. The resulting 123 home sites will accommodate ranch-style homes starting in the low $100,000 price range.
Newly confident buyers seeking to capitalize on low mortgage rates have discovered there’s a scarce supply of well-maintained existing homes for sale and are turning in larger numbers to new homes.
New-home permits in the Indianapolis metropolitan area rose 13 percent in the first three months of 2012 compared with the same quarter last year, bolstered by stronger activity in February and March.
Residential building permits are being filed nationally at about half the rate considered healthy by most economists, but builders have grown more confident over the past six months after seeing more people express interest in buying a home.
The nine-county Indianapolis area rebounded from a slow January to post a 40-percent year-over-year increase in building permits last month.
Building permits filed in the nine-county Indianapolis metropolitan area totaled 194 in January, a 2-percent dip from the same time last year. But industry leaders are cautiously optimistic.
About 12,000 homes were listed for sale at the end of December in the nine-county central Indiana market, a roughly 18-percent drop from a year earlier.
New-home construction in the Indianapolis area slid in 2011, marking six straight year-over-year declines in residential building. The 3-percent decrease in building permits, however, was the smallest decrease since 2006.
In the nine-county metropolitan area, the number of home-construction permits filed last month dropped to 225, a 13-percent decrease from the same month in 2010.
Double-digit increases in permit filings the past three months have residential construction activity in the Indianapolis metropolitan area in position to surpass last year’s pace.
In the nine-county metropolitan area, the number of home-construction permits filed last month increased 22 percent from the same month in 2010, while home-sale agreements rose 5.1 percent.
Home-construction permits in the Indianapolis metropolitan area climbed 23 percent in August thanks to a surge of activity in suburban counties.
