Acceleration Continues with February Single-Family Building Permits
Indianapolis, IN – The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis nine-county area, single-family building permits are up 32% from February last year with 818 permits compared to 622 in February 2020, increasing 38% over 2020 at this time.
“Home demand continues to surpass production capacity,” says Steve Lains, BAGI CEO. “It is certainly encouraging to see this enthusiasm evolve over the past year, and yet labor and supply cost increases, coupled with limited lot and home inventory, continue to pose challenges for builders to meet this demand.” Lains concludes, “In the coming months, it will remain important for builders and homebuyers to communicate and reset expectations as our builders work diligently to meet this market demand as efficiently as possible.”
2021 permits issued in the Greater Indianapolis Nine-County region have already created a total economic impact of $284,743,247 in local income, $64,641,431 in local taxes, and 4,821 local jobs so far in 2021.
