The Indiana Builders Association says single-family building permits dipped 9 percent in September, compared to the same month a year earlier. There were nearly 1,050 permits issued statewide last month. IBA Chief Executive Officer Rick Wajda says, in spite of the lower totals, builder confidence has been steady or increasing in each of the last five months.
Wajda says “the upward mobility proves that the housing industry is strengthening at a gradual, but consistent pace. Homebuilders in Indiana continue to face challenges regarding the availability of lots and labor. Despite this month’s drop in single-family building permits, we are optimistic that the housing market will gradually, but steadily, improve through the remainder of the year."
The association says the latest National Association of Home Builders/Wells Fargo Housing Market Index is up to 65, an increase from September to October and a return to levels unseen since the housing boom ended a decade ago.
The IBA says data from the U.S. Census Bureau and the Department of Housing and Urban Development show 1,200 permits were issued in September 2014.