According to the Builder’s Association of Greater Indianapolis (BAGI), new home building permits in December were up 36% overall compared to last year.

INDIANAPOLIS — New numbers show steady demand for newly-built homes in central Indiana, but still not enough to meet demand.

According to the Builder’s Association of Greater Indianapolis (BAGI), new home building permits in December were up 36% overall compared to the same month last year. Johnson and Madison counties saw the biggest jumps, up 442% and 260%, respectively. Some counties saw declines, but BAGI President Steve Lains said the nine-county metro area remained steady in 2023 at about 8,000 permits — about the same as 2022. This is due, in part, he said, to stabilizing interest rates.

“I really do think that the market is going to be a solid market this year,” Lains said.

But he also said that is only part of the picture.

When it comes to that first-time home buyer or those looking to move into the $200,000–$350,000 price range, Lains said there just haven’t been enough of those homes built over the last decade.

“We think we’re short in this market just looking at new construction of about 60,000 houses,” Lains said. “So at 8,000 (new) houses a year, we’re really just keeping up.”

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