Building Permits Slip in September

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INDIANAPOLIS -

The Builders Association of Greater Indianapolis says single-family building permits in central Indiana fell 5 percent in September. BAGI President Craig Jensen says, despite the dip, the market remains relatively steady with opportunities for growth.

The BAGI says 442 permits were issued last month in the nine-county region, compared with 466 during the same month last year. The organization says 4,708 permits have been issued year-to-date, which is a 6 percent increase over the same period in 2016.

"On average, government regulations currently account for 24% of the final price of a new home built for sale," said Jensen. "While BAGI supports regulatory measures to ensure safety and support its share of municipal costs associated with growth, communities must identify ways to reduce arbitrary regulations that hinder affordability and ultimately limit opportunities for housing starts."

Four of the nine counties saw increases in building permits. Madison County led the way with an 83 percent increase over September 2016. Johnson County saw the biggest drop with a 32 percent decrease from the previous year.

You can view the figures for September and for all of 2017 in the chart below:

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