Building Permits Slip in January

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The Builders Association of Greater Indianapolis says the number of single-family building permits in central Indiana dropped 18% last month, compared to January 2021. BAGI says 636 permits were issued in the nine-county region.

The previous year 772 permits were issued. BAGI says the region is starting to see the effects of last year’s record growth.

“Limited inventory of available lots and land in our area play a significant factor in the permit numbers we are seeing, but demand for new home builds remains strong and ever-increasing at this time,” said BAGI Chief Executive Officer Steve Lains.

BAGI says homebuilders remain busy to complete projects from last year’s construction surge.