Home Building Permits Continue Decline, Construction Activity Still Surges
INDIANAPOLIS (November 23, 2021) – For the third straight month, the Builders Association of Greater Indianapolis (BAGI) saw a drop in single-family building permits month, down 7% from October 2020. Overall permit numbers for 2021 are still up over last year, with 8884 permits this year compared to 7186 permits at this time last year.
Single-family building permits down 7% from October 2020.
“While permit numbers are down, homebuilding has yet to slow down for our builders. Our industry is working to catch up with the backlog we are seeing across all housing activity,” Steve Lains, CEO of the Builders Association of Greater Indianapolis said. “We expect to see this trend continue well into next year as everyone in the homebuilding industry is dealing with the challenges of ever-increasing supply pricing, supply chain delays and decreased labor.”
While overall permit numbers for the Central Indiana area were lower, several counties saw an increase in permit activity, including Boone County, Johnson County, Madison County and Marion County with 53%, 51%, 51% and 10% increases, respectively.
Boone County saw a 53% increase in building permits from October 2020.
Permit Breakdown by County:
|County||2020 Permits (Jan-Oct)||2021 Permits (Jan-Oct)|
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.