INDIANAPOLIS (November 28, 2023) – The Builders Association of Greater Indianapolis (BAGI) has released its October permit breakdown, which indicates interest in new home purchases remains steady. For the fifth month in a row, permit releases in Central Indiana are up compared to this time last year. “According to permits, interest in new construction is continuing to rise as we complete 2023,” says BAGI CEO Steve Lains.
In Central Indiana, 680 single family building permits were issued in October. Only 457 were issued in October of 2022 which is a 49% increase.
Since May, permit issuances have consistently been higher than the year prior as demand for homes in Indianapolis and the surrounding areas exceeds the available inventory.
Overall, total permit issuances are still down 6% compared to last year, but 6 out of 9 Central Indiana counties saw growth in October. Johnson County experienced the largest increase with 95 permit issuances in October. This is a 157% increase over last year. Hamilton, Hancock, Hendricks, Marion, and Morgan counties also issued more permits this year than in October 2022.
Permit Breakdown by County:
| County | 2022 Permits (Jan–October) | 2023 Permits (Jan–October) |
|---|---|---|
| Boone County | 575 | 669 |
| Hamilton County | 2186 | 2387 |
| Hancock County | 876 | 451 |
| Hendricks County | 874 | 921 |
| Johnson County | 733 | 457 |
| Madison County | 498 | 423 |
| Marion County | 1147 | 1214 |
| Morgan County | 259 | 246 |
| Shelby County | 113 | 65 |
For further information and access to the full October 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.
For more information about permit numbers, or to discuss local homebuilding trends with Lains or other BAGI officials, contact Allie Baughman at 317-527-6774 or allie@thecaway.com.
