The Builders Association of Greater Indianapolis says single-family building permits in central Indiana jumped 12 percent in October. The organization says 494 permits were issued last month in the nine-county region, compared with 443 permits during the same month last year.
The organization says building permit numbers have increased each month since December 2015. Nearly 5,000 permits have been issued year-to-date, which is a 13 percent increase over the same period in 2015.
"Typically this time of year we see a drop in new construction permit numbers," says Steve Lains, chief executive officer of the BAGI. "However, low mortgage rates coupled with ongoing job growth and a rise in consumer confidence is resulting in the rise in new home construction not only here in Central Indiana but across the country. In fact, local area builders are having trouble meeting the consumer demand which exists in our high-volume counties like Hamilton and Hendricks and labor and lot shortages are also contributing to that struggle."
Morgan County is the only county in the region that saw a decrease in permits year-to-date, dropping 13 percent.