Weather Continues to Weigh on Building PermitsPosted: Updated:
The Builders Association of Greater Indianapolis says new, single-family building permits posted a slight increase in February compared to the same month the previous year. The nine-county organization says harsh weather continues to be a "huge factor" in permit numbers.
March 18, 2014
INDIANAPOLIS, Ind. - February permit reports indicate that in the Greater Indianapolis Nine-County area, Single-Family Building Permits increased 26 percent over January numbers. There were 379 new home permits issued in February compared to 300 in January – a 26 percent increase.
In the Greater Indianapolis Nine-County region, the permits issued through February 2014 have created a total economic impact of $121,597,902 in local income, $27,604,737 in local taxes, and 2,029 local jobs, year-to- date.
“The harsh weather remains a huge factor in our February permit numbers but the numbers remain strong,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “Market analysts predict a steady increase in permit activity in 2014 and I suspect once we see a rise in temperatures, we’ll see the predicted uptick in our numbers, creating a substantial economic development impact in the Greater Indianapolis Area,” says Lains.
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 2000-2014.
Source: Builders Association of Greater Indianapolis