The Indiana Builders Association says single-family building permits rose 7 percent in August. The organization says 1,502 permits were issued throughout the state, up from 1,398 during the same month last year.
The IBA says permits increased 15 percent in August over the previous month, according to the latest data from the U.S. Census Bureau. The organization adds the overall number of permits is up 11 percent for the first eight months of the year.
"Recent permit numbers confirm that Indiana’s housing market is continuing to move forward at a gradual and consistent pace." said Rick Wajda, chief executive officer of the IBA. "As more and more Hoosiers enter the marketplace, our builders continue to work hard to make homeownership possible. With tax reform and other regulatory challenges on the horizon, we will continue to work hard and advocate for safe and affordable housing for both builders and consumers. We are also confident in a prosperous state housing market as job creation and economic growth has raised consumer assurance."
The IBA says the National Association of Home Builders/Wells Fargo Housing Market Index fell three points in September to 65. Any number over 50 means more builders view sales conditions as good rather than poor.