Statewide Home Building Permits Rise
The Indiana Builders Association says single-family building permits rose 13 percent in April. According to data from the U.S. Census Bureau and the Department of Housing and Urban Development, 1,359 permits were issued last month, compared to 1,206 during the same month last year.
The number of permits issued last month was also 11 percent higher than March. The permit numbers for the first four months of 2016 are up 15 percent compared with the same period last year.
"The steady increase in single-family building permits as well as new-home sales indicate that the housing market is gaining strength as we head into the summer months," said Rick Wajda, chief executive officer of the Indiana Builders Association. "Indiana kicks-off Homeownership Month on June 1, and our members look forward continuing to help make the dream of homeownership a reality for many Hoosiers by providing safe and affordable housing."
The National Association of Home Builders/Wells Fargo Housing Market Index stayed steady at 58 in May. The IBA says any number of 50 means more builders see conditions as good rather than poor.