The Indiana Builders Association says single-family building permits rose 12 percent in October. The organization says 1,416 permits were issued throughout the state, up from 1,264 during the same month last year.
The IBA says permits also rose 11 percent over the previous month, according to the latest data from the U.S. Census Bureau. The organization says, year-to-date, the overall number of permits is 10 percent higher than the first 10 months of 2016.
IBA Chief Executive Officer Rick Wajda says demand for housing is increasing at a consistent pace.
"As more Hoosiers realize the value of homeownership, we have seen a spur in economic growth and a tighter housing inventory that will create a strong market to finish out 2017," said. Wajda. "It is no secret that the building industry continues to face numerous supply-side challenges such as lot and labor shortages. However, builders are confident that a strong single-family housing market is the key to long-term economic prosperity for both families and the state as a whole."
The IBA says the National Association of Home Builders/Wells Fargo Housing Market Index rose to an eight-month high of 70 in November. Any number over 50 means builders view sales conditions as good rather than poor.
By Brian Harris Executive Creative Director, Bradley and Montgomery
It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.
The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s.
An annual list of emerging ethical dilemmas and policy issues in science and technology has been released by the John J. Reilly Center for Science, Technology, and Values at the University of Notre Dame. It includes robotic clergy, a crime reporting app and facial recognition technology that could read emotions.
Pittsburgh-based U.S. Steel has announced it will idle its tin mill operations in East Chicago, affecting nearly 300 workers, half of which will lose their jobs. Our partners at The Times of Northwest Indiana report U.S. Steel blames the layoffs on the Del Monte food company which announced its own mass layoffs.
Virginia-based Nestlé USA says only 40 employees will be laid off at the company's Fort Wayne distribution center. A spokesperson for Nestlé tells Inside INdiana Business a WARN Notice filed with the state incorrectly stated the facility would close at the end of the year, affecting nearly 70 workers.