INDIANAPOLIS (December 21, 2023) – The Builders Association of Greater Indianapolis (BAGI) just released its November permit breakdown. The report indicates steady demand overall and continued increase in demand for new single-family homes in certain parts of Central Indiana.

In the 9-county area BAGI serves, 587 permits were issued for single-family builds in November. This is up 64% year-over-year from November 2022, when only 357 permits were issued.

The number of permits issued in Boone, Hamilton, Hendricks, and Marion Counties indicates that the demand for single-family housing in these areas is strong, with up to a staggering 164% increase in the number of permits issued in Hamilton County from November 2022 to November 2023. Marion County also experienced an impressive 102% increase in the number of permits issued during the same time.

While Johnson County experienced a -30% decrease overall in permits for 2023, the County saw a 157% increase year-over-year for October and a 155% increase from November of last year to November 2023, which is a trend BAGI hopes will continue into the new year.

Overall, the demand for single-family homes remained fairly steady, with the number of permits issued decreasing by 2% year-over-year, with 7,607 permits issued from January-November 2022 versus 7,420 issued in the same period of 2023.

According to BAGI CEO Steve Lains, “Twenty-twenty-three has been an incredibly hard year for the homebuilding industry in Central Indiana. Our members have battled ever-rising prices for labor and supplies, a lack of qualified workers, and customers that, while interested in a new home, are dealing with the same inflation-related concerns.” Nevertheless, Lains remains optimistic. “Despite the challenges we faced in 2023, our members persevered. Their dedication to upholding the standards of professionalism and craftsmanship that we’ve become known for is a testament to their love of their craft and the strength of our industry. We are optimistic about 2024.”

Permit Breakdown by County: 

County 2022 Permits (Jan-Nov) 2023 Permits (Jan-Nov)
Boone County        644 735  
Hamilton County        2262  2588
Hancock County        905 486
Hendricks County        920 960
Johnson County        762 531
Madison County        518 445
Marion County        1205 1331
Morgan County        279 274
Shelby County        123 70

For further information and access to the full November 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 317-436-8499 ext. 701 or kristenh@thecaway.com.