The Indiana Builders Association says single-family building permits rose 1 percent in September. The organization says 1,275 permits were issued throughout the state, up from 1,265 during the same month last year.
The IBA says permits fell 15 percent in September over the previous month, according to the latest data from the U.S. Census Bureau. However, the organization adds the overall number of permits is up 10 percent for the first nine months of the year.
"It is not unusual to see a slight decrease in permit filings this time of year as builders work to finish existing homes before the season ends," said IBA President Lance Swank. "The Indiana housing market remains healthy as we continue to prove home building’s role in attracting economic growth throughout the state. As home builders prepare for the winter months, we are confident that 2017 has made large strides in helping Hoosiers reach the goal of homeownership. We are confident that the building industry will remain prosperous as we have seen a tight inventory of existing homes and a promising growth in household formation."
The IBA says the National Association of Home Builders/Wells Fargo Housing Market Index rose four points in October to 68. Any number over 50 means more builders view sales conditions as good rather than poor.