Single-Family Building Permits Continue to Climb in November
The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis nine-county area, single-family building permits saw yet another 47% increase this past month, pulling 694 permits compared to 472 in November 2019, with only Marion County posting a deficit. Year over year, 2020 permits continue to climb and are up 21% over last year at this time.
“We saw yet another significant increase in November’s permits,” says BAGI CEO Steve Lains, “which continues to reaffirm that we are experiencing unprecedented demand for new housing. Meeting this demand continues to be a challenge, as lot inventory and available homes continues to dwindle.”
2020 permits issued in the Greater Indianapolis Nine-County region have already created a total economic impact of $1,410,284,950 in local income, $320,158,031 in local taxes, and 23,877 local jobs so far in 2020.