Central Indiana Building Permits Continue to Rise with a 59 Percent Increase
INDIANAPOLIS (October 24, 2023) – The Builders Association of Greater Indianapolis (BAGI) has released its September permit breakdown, and for the fourth month in a row, it shows a steady increase of interest in new home purchases. “Permits show that the level of interest in new construction remains steady. We expect to see positive permit growth through the end of the year,” says BAGI CEO Steve Lains.
In Central Indiana, 847 single family building permits were issued last month compared to the 533 permits that were issued in September 2022. Collectively, permit issuances have been consistently rising since May as demand for homes in Central Indiana continues to exceed inventory.
“These rising permit numbers are a sign that the market is continuing to turn post-covid,” Lains explains.
Although total permits in the market are still down 9% compared to last year, for the first time in 2023, every single Central Indiana county saw positive permit growth this month. Hendricks County led the way with a 245% increase over its 2022 numbers and Hamilton County issued the most permits in September at 235. Morgan county also saw growth with a 227% increase from September of last year.
Permit Breakdown by County:
|County||2022 Permits (Jan-September)||2023 Permits (Jan-September)|
For further information and access to the full September 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.