Central Indiana Building Permits Level OutPosted: Updated:
The Builders Association of Greater Indianapolis says new, single-family building permits in August were essentially flat in the nine-county region, compared to the same month one year ago. Chief Executive Officer Steve Lains says the Builder Confidence index rose, which points to a healthier economy and could set up future increases. September 16, 2014
INDIANAPOLIS, Ind. - The August building permit reports indicate that in the Greater Indianapolis Nine-County area, Single-Family Building Permits increased one percent over the 2013 numbers year-to-date. Reports indicate there have been 3,594 new home permits issued so far this year compared to 3,567 in 2013. In addition, Builder Confidence rose for the third consecutive month to a reading of 55 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading over 50 indicates that more builders view sales conditions as good rather than poor.
"Steady permit numbers coupled with the rise in builder confidence nationally are strong indicators that the housing market is good," says Steve Lains, CEO of the Builders Association of Greater Indianapolis. "As builder confidence continues to improve and signs continue to point to a healthier economy, housing demand will be the result," says Lains.
In the Greater Indianapolis Nine-County region, the permits issued through August 2014 have created a total economic impact of $643,627,189 in local income, $146,114,027 in local taxes, and 10,897 local jobs, year to date (see chart below).
County Total Permits Local Income Local Taxes Local Jobs
Boone 318 $56,948,649 12,928,286 964
Hamilton 1,314 $235,316,117 53,420,654 3,984
Hancock 258 $46,203,621 104,88,987 782
Hendricks 516 $92,407,242 20,977,974 1,565
Johnson 444 $79,513,209 18,050,815 1,346
Madison 65 $11,640,447 2,642,574 197
Marion 548 $98,137,924 22,278,933 1,662
Morgan 89 $15,938,458 3,618,294 270
Shelby 42 $7,521,520 1,707,509 127
Totals: 3594 $643,627,189 $ 146,114,027 10,897
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 bagi.com for permits from 2000-2014.
Source: The Builders Association of Greater Indianapolis