Housing Market Showing ‘Considerable Strength’
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana Builders Association says single-family building permits continue to rise. Housing starts have increased in each of the last five months, compared to the same month the year before. Through June, permit totals are up 14 percent, compared to the first six months of 2015.
The IBA uses figures from the U.S. Census Bureau and the Department of Housing and Urban Development.
Chief Executive Officer Rick Wajda believes the numbers will continue to get better throughout the rest of the year. "A healthy job market and low mortgage rates are bolstering the Hoosier housing market. These latest numbers confirm the considerable strength in the housing industry over the past few months, and we anticipate that trend will continue."
In June, 1,394 single-family building permits were issued, up from 1,309 one year earlier. The IBA says national builder confidence numbers remain consistent with a gradual housing industry recovery.
The market still lag behind pre-recession levels. June 2007, for example, saw 2,114 single-family home permits.