Statewide Building Permits Rise in July
The Indiana Builders Association says single-family building permits throughout the state rose 6 percent in July. According to data from the U.S. Census Bureau and the Department of Housing and Urban Development, 1,189 permits were issued last month, compared to 1,124 in the same month last year.
The IBA says permit numbers year-to-date are up 13 percent compared to the same period in 2015. However, permit numbers for July 2016 were down 17 percent compared to the previous month.
"As we move into the second half of 2016, it is encouraging to see single-family building permits continue to increase compared to last year," said Indiana Builders Association Chief Executive Officer Rick Wajda. "The economic fundamentals are in place for continued growth in the housing market throughout the remainder of the year."
The IBA says the National Association of Home Builders/Wells Fargo Housing Market Index increased two points to 60. July’s number, which was initially reported as 60, was revised to 58. The IBA says any number above 50 means more builders view conditions as good.