The Builders Association of Greater Indianapolis reports building permits rose in December. Single-family building permits in the nine-county region were up 10 percent from the previous month and up one percent from the same period in 2014.
The organization says there were 5,118 new home permits issued in 2015, compared with 5,084 in 2014. The permits issued in December created a total economic impact of over $915 million in local income.
"The December permit gains certainly indicate the market is moving forward and making great progress in Central Indiana," says Steve Lains, CEO of the Builders Association of Greater Indianapolis. "Market analysts are predicting a strong 2016 for housing, forecasting steady increases throughout the year. Housing demand will continue to outweigh supply which is why we’ll see steady increases and not large spikes in permit numbers in 2016."
The permits also created over $200 million in local taxes and over 15,000 local jobs.