Central Indiana Homebuilding Sales Remain Strong Despite Permit Decline
INDIANAPOLIS (July 20, 2022) – The Builders Association of Greater Indianapolis (BAGI) continues to see a decline in Central Indiana’s permit activity, with 850 permits issued last month compared to 1034 in June 2021.
Central Indiana permits down 13 percent year-over-year.
Despite the lower permit numbers, local homebuilders and suppliers remain busier than ever, as companies continue to convert prospects and sell new home builds, according to BAGI CEO, Steve Lains.
“While sale leads have slowed, builders remain busy finishing homes previously sold,” Lains said. “Most builders have been leery of beginning too many new homes at one time as the construction trades and suppliers struggle to keep up with homes already sold and contracted.”
Lains said that builders remain optimistic, citing that permit activity is still very strong for the Indianapolis market and an increase in land development is encouraging for future home communities and new home construction activity.
Some counties did see an increase in permits in June, including Hancock, Johnson and Marion County. Marion County had a 31% increase, with 165 issued last month compared to 126 in June 2021.
Permit Breakdown by County:
|County||2021 Permits (Jan – May)||2022 Permits (Jan – May)|
For more information about permit numbers, or to discuss local homebuilding trends with Lains or other BAGI officials, contact Courtney Albright at 317-236-6330 or firstname.lastname@example.org.
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 2000-2022.