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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indianapolis-area homebuilding industry continued to see rising new-home activity in April, with residential construction applications increasing 37% on a year-over-year basis.
Builders in the nine-county area filed 901 single-family building permits during the month, up from 658 in April 2023, according to the latest statistics from the Builders Association of Greater Indianapolis, or BAGI.
For the first four months of 2024, permit filings were up 44% compared with the same period of 2023, from 2,188 to 3,141.
Permit filings have risen on a year-over-year basis for 10 straight months. April increases were seen in seven of the area’s nine counties.
“We are excited to see a steady pattern of growth as we near the middle of the second quarter,” said BAGI CEO Steve Lains in written remarks. “Even with the slight increase in interest rates, the demand for new single-family homes remains high.”
May single-family building permits filings by county and year-over-year increase:
Hamilton: 324 (+29%)
Marion: 141 (+7%)
Boone: 96 (+167%)
Hendricks 96 (-15%)
Hancock: 91 (+279%)
Johnson: 68 (+134%)
Madison: 43 (+8%)
Morgan 28 (-13%)
Shelby: 14 (+1,400%)
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