The Builders Association of Greater Indianapolis says the number of new, single-family building permits in April increased slightly, compared to the same period the previous year. Chief Executive Officer Steve Lains has a positive outlook for the summer building season, despite some concerns with lot and material supplies. May 14, 2014
INDIANAPOLIS, Ind. – April building permit reports indicate that in the Greater Indianapolis Nine-County area, Single-Family Building Permits increased 4 percent compared to April 2013 year-to-date and have increased 14 percent over last month. Reports indicate there have been 1659 new home permits issued so far this year compared to 1600 in 2013.
“The steady and stable uptick in new construction permits is an excellent indicator that the demand is solid,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “I do feel that the current lot shortages coupled with labor and material supply issues are preventing large spikes in permit numbers, but the steady uptick is healthy and the outlook is positive as we approach the summer months,” says Lains.
In the Greater Indianapolis Nine-County region, the permits issued through April 2014 have created a total economic impact of $297,100,030 in local income, $67,446,625 in local taxes, and 5,030 local jobs, year to date (see chart below).
County Total Permits Local Income Local Taxes Local Jobs
Boone 144 $25,788,068 5,854,318 437
Hamilton 676 $121,060,651 27,482,772 2050
Hancock 111 $19,878,302 4,512,704 337
Hendricks 214 $38,323,934 8,700,167 649
Johnson 206 $36,891,263 8,374,928 625
Madison 29 $5,193,430 11,78,995 88
Marion 242 $43,338,280 9,838,507 734
Morgan 26 $4,656,179 1,057,030 79
Shelby 11 $1,969,922 447,205 33
Totals: 1659 $297,100,030 $67,446,625 5030
The Builders Association of Greater Indianapolis is a professional trade association representing residential homebuilders, associates and remodelers. For more information call 317-236-6330; or visit www.BAGI.com for permits from 2000-2014.
Source: Builders Association of Greater Indianapolis