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BUILDING PERMITS
Single-Family Permit Numbers Fall for First Time in 15 Months
Indianapolis, IN – The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis Nine-County area, Single-Family Building Permits dropped 8 percent this month compared to 2016’s February numbers. As of February 2017, there were 696 new home permits issued year-to-date compared to 702 last year. Although slight, this is the rst drop in 15 months.
“We are starting to see a drop in numbers which is a result of government regulations and the
inability to keep up with housing demand,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “I don’t anticipate seeing a large drop in permit numbers in 2017 though. Market analysts are predicting steady numbers with slight increases
this year.”
Locally we are seeing a surge in Madison County permits, reporting a 157% increase from last year. Once again, Hamilton County is pulling in the most single-family permits with 134 in February,
followed by Marion County with 63 and Hendricks County reporting 49.
In the Greater Indianapolis Nine-County region, the permits issued in January 2017 have created a total economic impact of $124,642,327 in local income, $28,295,872 in local taxes, and 2,110 local jobs (see chart below).
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ECONOMIC IMPACT CHART
2017 YEAR-TO-DATE