BAGI Sees Continued Rise in Central Indiana Building Permits with a 30 Percent Increase
INDIANAPOLIS (September 24, 2023) – The Builders Association of Greater Indianapolis (BAGI) has released its August permit breakdown, which illustrates a rise in consumer homebuilding interest for the second month in a row. In August, central Indiana saw a thirty percent increase in issued permits compared to this time last year.
This past month, 786 single family building permits were issued across nine Central Indiana counties which is a significant increase compared to the 603 permits that were issued in August 2022. This increase is a continuation of last month’s 6 percent rise.
“We are seeing a steady increase in building permits as the demand for homes continues to exceed available inventory,” BAGI CEO Steve Lains explains. “We are hopeful that single family building permits will continue to increase for the duration of 2023 as we return to normal, post-covid levels.”
Boone, Hamilton, Hendricks, Marion, and Morgan counties all saw positive permit growth this month, with Boone County seeing a staggering 118% increase. This August, Boone county issued 87 permits compared to the 40 they issued at the same time last year.
“This uprising trend of permit issuances is a reflection of the optimism the association has been maintaining for the past year. We expect these gains to remain steady in the coming months,” says Lains.
Permit Breakdown by County:
|County||2022 Permits (Jan-August)||2023 Permits (Jan-August)|
For further information and access to the full August permit breakdown report, please visit the Builder’s Association of Greater Indianapolis website at www.bagi.com.
BAGI remains committed to promoting, educating, and serving its members and the housing industry in the Indianapolis area, and will continue to monitor and support the growth in building permits and overall housing market activity.