Page 46 - Sites - May 17 Issue

BUILDING PERMITS
Single-Family Permit Numbers Back on the Rise
Indianapolis, IN – The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis Nine-County area, Single-Family Building Permits rose 8 percent this month compared to 2016 numbers. As of March 2017, there were 1310 new home permits issued year-to-date compared to 1287
last year.
“The Central Indiana new housing market continues to see stable growth,” said Steve Lains, BAGI CEO. “We recognize, however, that regulatory pressures often keep our
members from being able to build new homes that are affordable to our workforce, given that 43% of local households have household incomes of $50,000 or less.”
Locally we are seeing a surge in Madison County permits, reporting a 180% increase and Johnson County reporting a 28% increase over last year. Once again, Hamilton County is pulling in the most single-family permits with 508 in March, followed by Marion County with 222 and Hendricks County reporting 179.
In the Greater Indianapolis Nine-County region, the permits issued in March 2017 have created a total economic impact of $234,599,782 in local income, $53,258,034 in local taxes, and 3,972 local jobs (see chart below).
ECONOMIC IMPACT CHART
2017 YEAR-TO-DATE
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