Indianapolis, IN –  The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis nine-county area, single-family building permits closed out 2020 with an impressive 82% increase, with 788 permits compared to 433 in December of 2019.  Year over year, 8,669 permits were filed in 2020, rising 24% compared to last year at this time and securing the highest year in permits since 2006.

The median price for new homes in the area in 2020 increased by 4%, to $321,927, compared with $308,683 in 2019, the highest median home price of the decade.

“We have concluded this unprecedented year with significant growth in new home construction,” says BAGI CEO Steve Lains. “Other than the slight stall we saw in March and April, the demand for new housing has consistently surpassed expectations throughout the year, leading to our highest year in permits since the downturn.  The demand driving these increases continues to persist despite dwindling lot inventory and COVID-related supply chain challenges,” Lains concludes, “and we are optimistic about 2021’s demand projections as we begin a new year.”

2020 permits issued in the Greater Indianapolis Nine-County region have created a total economic impact of $1,552,477,490 in local income, $352,438,091 in local taxes, and 26,284 local jobs over the course of this year.

County Annual Data:

  • Hamilton County continues to be the most active market for new construction, filing 2,607 permits this year, a 13% increase over 2019.
  • Hendricks County is up 50% year over year with 1,374 permits, surpassing Marion County in total permits.
  • Marion County saw a slight decline of 3% with 1,348 permits reported in 2020.
  • Johnson County permit filings increased by 27% this year with 955 permits.
  • Hancock County jumped by 45% with 840 permits for the year.
  • Boone County filed 659 permits, a 29% increase year over year.
  • Madison County delivered the highest increase of the nine-county area, up 153% with 470 permits this year.
  • Morgan County permit filings increased by 18% in 2020 with 303 permits.
  • Shelby County filed 113 permits in 2020, a 55% increase.