updated: 6/12/2012 7:47:12 AM
The Builders Association of Greater Indianapolis is reporting one of the largest increases in May building permits in more than a decade. Single-family permits last month totaled 431, compared to 358 a year earlier. The association also says more than 1,800 were pulled in May 2001.
June 11, 2012
INDIANAPOLIS, Ind. - The Greater Indianapolis Nine-County, Single-Family Building Permits for May 2012 increased 20 percent compared to May 2011. There were 431 permits pulled in May compared to 358 permits in 2011.
"In the last decade, May has not been a particularly strong month in terms of an increase in permits from the previous year," said Steve Lains, CEO of the Builders Association of Greater Indianapolis. "So, we were happy to see the May permits 20 percent higher than last year. With permits trailing sales by 30-45 days, the numbers are an indication of a strong spring selling season that we hope continues into the summer."
The 20 percent rise in single-family permits from the previous year was the largest May increase in more than a decade. May 2001 (1,847 permits) recorded a 38 percent increase compared to May 2000 (1,337 permits). May permit activity during that time frame carted a few one-digit increases from the previous year and several two-digit decreases.
The Builders Association of Greater Indianapolis is a professional trade association representing residential homebuilders, associates and remodelers. For more information call 317-236-6330 or visit www.BAGI.com.
Source: Builders Association of Greater Indianapolis