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BUILDING PERMITS
Single-Family Building Permits Numbers Continue to Rise in June
Indianapolis, IN – May building permit reports indicate that in the Greater Indianapolis Nine-County area, Single- Family Building Permits rose 14 percent compared to 2015 numbers and rose
13 percent over last month. As of June 2016, there were 3,002 new home permits issued year-to-date compared to 2,639 last year.
“It’s excellent for the industry and our local and national economy that permit numbers are on the rise and consumer demand is at an all-time high,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “However, I believe there is demand for 10% - 20% more homes in this market that are currently unable to be built under the $250,000.00 price point.
Overreaching government regulations, similar to those that led the Association to recently le a lawsuit against the City of Greenwood, continue to burden housing production for homes priced
to meet the needs of today’s growing workforce in the Central Indiana market. Teachers, reman, law enforcement of cers and returning military veterans are being priced out
of many area markets by government regulations that, as identi ed in a recent study, have increased so dramatically to account for over 25% of the total cost of a newly built home.” said Lains.
In the Greater Indianapolis Nine-County region, the permits issued in June
2016 have created a total economic impact of $430,338,379 in local income, $97,693,936 in local taxes, and 7,286 local jobs (see chart below)
ECONOMIC IMPACT CHART
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