Central Indiana Building Permits Tick UpPosted: Updated:
The Builders Association of Greater Indianapolis says single-family building permits so far this year are slightly higher than 2013. Chief Executive Officer Steve Lains says a stabilization of the U.S. job market is leading to a "steady uptick" in permit numbers in the organization's nine-county area.
October 14, 2014
Indianapolis, Ind. -- The September 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 3,966 new home permits issued so far this year compared to 3,934 in 2013. In addition, Builder Confidence rose for the fourth consecutive month to a reading of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) – the highest since November of 2005.
"We are seeing a stabilization of the U.S. job market which is a contributing factor to the builder confidence levels and the steady uptick in permit numbers," says Steve Lains, CEO of the Builders Association of Greater Indianapolis. "All these signs are indicating a healthy pace of housing recovery in Central Indiana," says Lains.
In the Greater Indianapolis Nine-County region, the permits issued through September 2014 have created a total economic impact of $710,246,363 in local income, $161,237,682 in local taxes, and 12,025 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