CEO: Weather Causes Dip in Building PermitsPosted: Updated:
The Builders Association of Greater Indianapolis is reporting its first monthly decrease in the number of new, single-family building permits in a year-and-a-half. The nine-county organization says 300 permits were issued last month, which is slightly fewer than a year earlier. Chief Executive Officer Steve Lains says harsh weather has "crippled our industry" during the last four-to-six week period. February 14, 2014
INDIANAPOLIS, Ind. - January permit reports indicate that in the Greater Indianapolis Nine-County area, Single-Family Building Permits decreased less than 1% percent compared to January 2013 numbers. There were 300 new home permits issued in January 2014 compared to 303 in January, 2013.
"The weather is inevitability a large factor in our permit numbers," says Steve Lains, CEO of the Builders Association of Greater Indianapolis. "The recent weather has crippled our industry for the past four to six weeks and I am not surprised to see the slight dip. My hope is that the weather subsides quickly and we can begin to see the steady increases market analysts are predicting," says Lains.
In the Greater Indianapolis Nine-County region, the permits issued through January 2014 have created a total economic impact of $53,725,141 in local income, $12,196,496 in local taxes, and 910 local jobs, year-to-date.
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 for permits from 2000-2013.
Source: The Builders Association of Greater Indianapolis