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Central Indiana residential builders continued to see strong demand for new homes last month as the year grew closer to its finish.
Builders filed 648 single-family building permits in the nine-county area in November, an increase of 9% compared with the same month of 2023, according to the latest statistics from the Builders Association of Greater Indianapolis, or BAGI.
Permit filings have risen on a year-over-year basis for 17 straight months.
Through the first 11 months of 2024, 9,377 permits were filed in central Indiana, a 26% increase over the same period of 2023.
“We are encouraged by the positive trend in new home construction and look for it to continue into the new year,” said Steve Lains, CEO of BAGI. “The 26% change in permits for 2024 is a strong indicator of the continued health and resilience of Indiana’s housing market and we believe we will continue to see increased demand next year. However, our challenge with supply constraints—including government regulations, material costs and land availability—continue to challenge our ability to meet that demand.”
Lains on Dec. 19 announced his retirement from BAGI in early 2025 after more than 30 years with the organization. He joined BAGI as director of government affairs in 1992 and became CEO in 1996.
November single-family building permit filings by county and year-over-year change:
Hamilton: 150 (-25%)
Marion: 119 (+2%)
Hendricks 102 (+132%)
Johnson: 79 (+7%)
Hancock: 77 (+120%)
Boone: 59 (-11%)
Morgan 28 (0%)
Madison: 22 (0%)
Shelby: 12 (+140%)
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The striking differences of permits per county is wild.
Costs and culture.