Building Permits Steady in Central Indiana
The company says home prices averaged $186
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Builders Association of Greater Indianapolis says single-family building permits remained steady in November. The group says 4,760 new home permits were issued, nearly identical to 2014.
In the nine-county region, the permits issued in November created a total economic impact of over $850 million in local income, over $190 million in local taxes and over 14,000 local jobs.
“We typically see a dip in permit numbers in late fall and winter so the fact that our numbers remained steady indicates there is energy in the marketplace,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “With Builder Confidence continuing to rise for newly constructed single-family homes and interest rates remaining low, we are optimistic that 2016 will be another good year for housing in Central Indiana. However, it is important to note that the shortage in lot availability and stricter municipality regulations and ordinances will prohibit us from seeing significant permit spikes in 2016.”
Meanwhile, F.C. Tucker Company reports only two of the nine central Indiana counties experienced an increase in home sales last month compared to November 2014. Sales in Shelby County grew 36 percent while Madison County saw a 9.7 percent increase. However, the nine-county region overall saw a 9.6 percent decline.
