Building Permits Reflecting National Trend, Leveling Out to Pre-COVID Numbers
INDIANAPOLIS (April 26, 2023) – The Builders Association of Greater Indianapolis (BAGI) reports that building permits in the Indianapolis area are reflecting a nationwide trend of returning to pre-pandemic levels, with 671 permits issued in March throughout the nine counties.
“March continues the trend of a slow return to permit numbers that reflect the pre-pandemic market conditions of strong consumer demand and low inventory of both completed homes and lots,” Steve Lains, CEO of BAGI said. “We are encouraged to see the market gradually returning to levels that can be better sustained with the current labor and supply conditions, indicating a positive trajectory for the industry.”
Despite the challenges faced by the housing industry, including supply chain delays, labor shortages, and land availability issues, the local market has shown resilience. Lains said BAGI remains optimistic about the strong signs of consumer demand and interest in new homes in the Indianapolis area.
“While there are still challenges to overcome,” Lains said. “We are confident that the housing market will continue to strengthen as we move forward.”
Permit Breakdown by County:
|County||2022 Permits (Jan-Mar)||2023 Permits (Jan-Mar)|
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 Kylee Kendall at 317-527-6774 or firstname.lastname@example.org