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BUILDING PERMITS
Single-Family Permit Numbers See Uptick, Still Room for Growth
Indianapolis, IN – The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis Nine-County area, Single-Family Building Permits increased by 11% percent last month with 550 permits compared to September 2016’s 494. The area continues to see a slow and steady 6% increase with 5,258 total
permits for the year.
“Demographics are changing,” says Craig Jensen, Board President of The Builders Association of Greater Indianapolis. “While we
are encouraged to see slight increases in permits this month, census data tells us that single- person households are expected to grow 44% nationwide by 2030. Our market is lacking the price points and housing product to accommodate both the young
and mature generations who
are seeking smaller homes on smaller lots with less maintenance and more walkability.” Jensen suggests, “In order to continue growing, community planning processes must be adapted to t these evolving needs.”
In the Greater Indianapolis Nine-County region, the permits issued in October 2017 have created a total economic impact of $941,622,637 in local income, $213,763,927 in local taxes, and 15,942 local jobs (see chart below).
ECONOMIC IMPACT CHART
2017 YEAR-TO-DATE
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