INDIANAPOLIS (Inside INdiana Business) — Home construction remains strong in central Indiana, according to new data from a builder’s trade group. The?Builders Association of Greater Indianapolis says single-family building permits have to date increased 39% over 2020.
BAGI says 6,539 permits have been issued so far this year in the nine-county area, compared to 4,692 permits at this time last year.
“While the growth was not as large in July as we have seen in previous months, the volume being produced is incredible,” Steve Lains, CEO of the Builders Association of Greater Indianapolis said.? “Builders are still seeing constraints on product availabilities, having difficulties with labor shortage and are also concerned about the opportunity to obtain approvals for projects in the future.”
Lains says he believes we will continue to see an increase in permits for the remainder of this year and into next as the limited existing home inventory further drives demand for new construction.
BAGI says each of the nine counties has seen an increase in permits issued when comparing to last year’s cumulative average. The most notable and rapid growth is Shelby County’s 150% jump from 8 permits issued in July 2020 to 20 in July 2021.