Central Indiana Building Permits on The Rise

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The Builders Association of Greater Indianapolis says July single-family building permits in its nine-county area jumped 35 percent, compared to the same month the previous year. Chief Executive Officer Steve Lains says he expects the “same steady increase” through the late summer and fall.

Indianapolis, Ind. — July reports indicate that in the Greater Indianapolis Nine-County area, Single-Family Building Permits for July 2013 increased 35 percent compared to July 2012. There were 500 permits issued in July 2013 compared to 370 permits issued in July 2012.

The July permits mark the 13th-straight same-month increase from the previous year. Permits were up 13 percent last month from 2012 and 23 percent in May from 2012.

“I was very pleased when I saw the July numbers,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “This is indicative of the growing housing market in the Greater Indianapolis area and more importantly, a sign of a stronger U.S. economy,” says Lains.

“We expect to see the same steady increase throughout the late summer and fall. Local builders and vendors are clearly seeing the affects of the demand and are working hard to continue to provide the best possible products and services for consumers,” says Lains.

Annual totals for the Greater Indianapolis Nine-County region, which includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan, and Shelby counties, through July 2013 show permits are up 29.96 percent from last year with 3,103 permits issued. Comparatively, there were 2,444 permits issued through July 2012.

In the Greater Indianapolis Nine-County region, the 3,103 permits issued through July 2013 have created a total economic impact of $555,697,041 in local income, $126,152,428 in local taxes, and 9,408 local jobs, year to date.

The Builders Association of Greater Indianapolis is a professional trade association representing residential homebuilders, associates and remodelers.

Source: Builders Association of Greater Indianapolis