Homebuilding Still Booming, Single-Family Building Permits Up 39% From 2020
INDIANAPOLIS (AUGUST 24, 2021) – The Builders Association of Greater Indianapolis (BAGI) announced that in Central Indiana’s nine-county area, single-family building permits have a 39% cumulative increase over 2020, with 6539 permits so far this year compared to 4692 at this time last year.
Single-family building permits are up 39% year over year.
“While the growth was not as large in July as we have seen in previous months, the volume being produced is incredible,” Steve Lains, CEO of the Builders Association of Greater Indianapolis said. “Builders are still seeing constraints on product availabilities, having difficulties with labor shortage and are also concerned about the opportunity to obtain approvals for projects in the future.”
Lains added that he believes we will continue to see an increase in permits for the remainder of this year and into next as the limited existing home inventory further drives demand for new construction.
Each of the nine counties has seen an increase in permits issued when compared to last year’s cumulative average. The most notable and rapid growth is Shelby County’s 150% jump from 8 permits issued in July 2020 to 20 in July 2021.
All nine counties have seen a cumulative increase in permits year over year.
|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.