Building Permits Slow in August, Still Up 34% From 2020
INDIANAPOLIS (SEPTEMBER 21 2021) – The Builders Association of Greater Indianapolis (BAGI) saw its first drop in single-family building permits in August, down 2% from August 2020. However, the nine-county area has a 34% cumulative increase over 2020, with 7295 permits so far this year compared to 5463 at this time last year.
Single-family building permits are up 34% year over year.
“Limited lot availability and material shortages are certainly main contributors to the decrease in permits this last month” Steve Lains, CEO of the Builders Association of Greater Indianapolis said. “Our builders are seeing lengthier project delays due to supply and labor constraints and will continue to for some time.”
Morgan County saw a massive jump in permits with 37 issued this year compared to just 18 in August 2020, showing a 106% increase. Each of the nine counties has seen an increase in permits issued when comparing to last year’s cumulative average.
All nine counties have seen a cumulative increase in permits year over year.
Permit Breakdown by County:
|County||2020 Permits (Jan-July)||2021 Permits (Jan- July)|
The Builders Association of Greater Indianapolis is a professional trade association representing residential homebuilders, associates and remodelers. For more information, call 317-236-6330; or visit www.BAGI.com/permits/ for permits numbers from 2000-2021.
HOMES BUILD OUR LOCAL ECONOMY – in 2020, new home construction created $1.55 billion in local income, over $352 million in local taxes, and 26,284 jobs.