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Central Indiana residential builders continued to see a surge in business last month as the year entered its final quarter.
Builders filed 874 single-family building permits in the nine-county area in October, an increase of 29% compared with the same month of 2023, according to the latest statistics from the Builders Association of Greater Indianapolis, or BAGI.
Only one county out of the nine reported a year-over-over decrease in filings in October.
Permit filings have risen on a year-over-year basis for 16 straight months.
Through the first 10 months of 2024, 8,671 permits were filed in central Indiana, a 27% increase over the same period of 2023.
“We are encouraged by the positive trend in new home construction,” said Steve Lains, CEO of BAGI, in written remarks. “The 29% change in permits is a strong indicator of the continued health and resilience of Indiana’s housing market. Our builders are responding to clear demand, but supply constraints—including government regulations, material costs, and land availability—continue to challenge our ability to meet that demand.”
October single-family building permit filings by county and year-over-year change:
Hamilton: 247 (+10%)
Marion: 185 (+24%)
Hendricks 137 (+69%)
Johnson: 131 (+38%)
Hancock: 78 (+56%)
Boone: 49 (+32%)
Morgan 26 (+44%)
Madison: 12 (-43%)
Shelby: 9 (+125%)
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