Central Indiana Building Permits Slightly HigherPosted: Updated:
The Builders Association of Greater Indianapolis says October single-family building permits in its nine-county region were one percent higher than the same month last year. Chief Executive Officer Steve Lains says the number is especially positive since permit numbers tend to dip this time of year.
November 13, 2014
Indianapolis, Ind. -- The October 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 4,371 new home permits issued so far this year compared to 4,309 in 2013. In addition, markets in 59 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2014, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released last week.
"We typically see a dip in permit numbers this time of year so remaining steady is definitely a positive indicator," says Steve Lains, CEO of the Builders Association of Greater Indianapolis (BAGI). "It is clear that an overall recovery is evident in Central Indiana and across the country and that is an optimistic sign for the industry," says Lains.
In the Greater Indianapolis Nine-County region, the permits issued through October 2014 have created a total economic impact of $782,775,304 in local income, $177,702,953 in local taxes, and 13,253 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 bagi.com for permits from 2000-2014.
Source: Builders Association of Greater Indianapolis