The chief executive officer of the Builders Association of Greater Indianapolis says, despite a jump in January single-family building permits, the environment for builders remains challenging. Steve Lains says difficulties in the project approval process are "hindering the new construction industry’s ability to meet the ongoing demand." The nine-county organization says 480 permits were issued last month, compared to 345 in the same month a year earlier.
The highest number of permits in the region — 192 — were issued in Hamilton County in January. Marion County came in second at 101, followed by Hendricks County’s 67 and 40 in Johnson County. BAGI says projections from MarketGraphics Research Group suggest demand over the full year will be higher than current inventory in nearly all nine counties. Westport Homes Vice President of Sales and Marketing Rob Montgomery says "many builders like Westport went into the new year preparing inventory specs anticipating first and second quarter demand, which explains January’s 39 percent permit growth. However, we would expect these numbers to level out as much of that inventory is depleted."
You can read more about the permit figures by clicking here.