Statewide Home Starts Dash Higher in November

Posted: Updated:
(Image courtesy of the Indiana Builders Association) This IBA graph shows November single-family homebuilding permit totals for each year since 2007. (Image courtesy of the Indiana Builders Association) This IBA graph shows November single-family homebuilding permit totals for each year since 2007.
INDIANAPOLIS -

The Indiana Builders Association says new numbers show single-family building permits in November almost reached pre-recession levels. The organization says totals have increased ten consecutive months, compared to the same months a year earlier. The statistics from the U.S. Census Bureau and the Department of Housing and Urban Development show 1,155 single-family permits were issued last month, up from 958 in November 2015.

IBA President Jim Pressel says "a solid job market and a growing economy have spurred this growth, and we expect that upward trajectory to continue into next year." He adds that a seven point national rise in builder confidence "is consistent with recent increased economic improvement and consumer confidence. At the same time, builders remain sensitive to rising mortgage rates and continue to deal with shortages of lots and labor." The National Association of Home Builders/Wells Fargo Housing Market Index now stands at 70, which is the highest level since July 2005.

To date in Indiana, single-family permits have jumped 14 percent, compared to the same 11 month period last year. You can connect to more on the increase by clicking here.

  • Perspectives

    • (photo courtesy of Conexus)

      Getting the Word Out About Manufacturing & Logistics

      As the epicenter of the nation’s advanced manufacturing and logistics industries, Indiana has a compelling story to tell about how Hoosier companies make and move the goods people depend on every day. Our goal is to ensure everyone hears these stories – many of which share a common theme focused on cutting-edge technologies that are transforming the way products are made and moved around the world and the people who use them. Conexus Indiana launched an...

    More

Events



  • Most Popular Stories

    • (photo courtesy of The Times of Northwest Indiana)

      Historic Hospital to be Torn Down in Gary

      A building that once represented the racial divide in the city of Gary, but long provided health care to the African American community, will soon fall to a wrecking ball. The city says it intends to raze the long-abandoned St. John’s Hospital. 

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Photo courtesy of Indianapolis Motor Speedway

      Red Bull to Discontinue Air Race World Championship

      The Red Bull Air Race at the Indianapolis Motor Speedway, originally scheduled for October, has been canceled as a result of Red Bull's decision to discontinue the Air Race World Championship following the 2019 season. The company says the races scheduled between June and September in Russia, Hungary and Japan will run as planned. 

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.