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BUILDING PERMITS
Single-Family Permit Numbers Rise for the 14th Straight Month
Indianapolis, IN – The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis Nine-County area, Single-Family Building Permits rose 7 percent compared to 2016 numbers. As of January 2017, there were 345 new home permits issued year-to-date compared to 321 last year – a rise in numbers for the fourteenth
straight month.
“During the winter months, we typically see a drop in permit numbers so we are very excited to report another month of rising numbers,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “We are seeing surges in the 55+ housing market along with the multifamily housing market which helps offset some of the regulatory struggles prohibiting local builders from keeping up with
demand for housing in an affordable price range,” says Lains.
Locally we are seeing spikes in permits in Madison County reporting a 67% increase, Johnson County showing a 63% increase, and Boone County with a 41% increase. Once again, Hamilton County is pulling in the most single-family permits with 137 in January followed by Marion County with 53 and Hendricks County reporting 44.
In the Greater Indianapolis Nine-County region, the permits issued in January 2017 have created a total economic impact of $61,783,912 in local income, $14,025,971 in local taxes, and 1,046 local jobs
(see chart below).
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ECONOMIC IMPACT CHART