The Builders Association of Greater Indianapolis says single-family building permits in central Indiana totaled 694 in November, a 47% increase from the same month last year. The organization says year-to-date, permits in the region are up 21% over last year and continue to trend upward.
Marion County was the only county to post a deficit out of the nine-county region. Madison County saw the biggest increase in permits at 141%.
“We saw yet another significant increase in November’s permits,” said Steve Lains, chief executive officer of the Builders Association of Greater Indianapolis. “Which continues to reaffirm that we are experiencing unprecedented demand for new housing. Meeting this demand continues to be a challenge, as lot inventory and available homes continues to dwindle.”
The organization says 2020 permits issued in the central Indiana region have already created a total economic impact of more than $1.4 billion in local income, $320 million in local taxes, and 23,877 local jobs so far this year.