INDIANAPOLIS (June 21, 2024) – The Builders Association of Greater Indianapolis (BAGI) just released its May permit breakdown.

Indiana’s new construction housing market started off the year with tremendous growth of 77% compared to the previous year. By May, there was only 11% growth compared to the previous year, with 837 single-family home permits issued in May 2024 versus the 752 issued in May 2023. 

“We are encouraged by the local market’s steady growth, especially in what has been and is predicted to be a tumultuous year, politically and economically. What is also exciting to see is growth in the more rural and developing counties, which is not surprising given their more moderate home prices and cost of living,” said BAGI CEO Steve Lains. “We obviously have no way to foresee the impact of the upcoming election but are encouraged by these permit numbers.”

Permit Breakdown by County: 

County             2023 Permits (May)   2024 Permits (May)  
Boone County              71  70
Hamilton County              337 318
Hancock County              47 89
Hendricks County              89  84
Johnson County              41 71
Madison County              13 42
Marion County              122 132
Morgan County              24 24
Shelby County              8 7

For further information and access to the full May permit breakdown report, please visit the Builder’s Association of Greater Indianapolis website at https://www.bagi.com/permits.

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 Kristen Hoyt at 317-527-6774 or kristenh@thecaway.com.