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Applications for new home construction jumped 64% in central Indiana in November—the fifth straight month of rising permit filings.
Builders in the nine-county Indianapolis area filed 587 single-family building permits in November, up from 357 in the same month of 2022, according to the latest statistics from the Builders Association of Greater Indianapolis.
Six of the area’s nine counties saw a year-over-year increase in filings during the month. Hamilton, Johnson and Marion counties saw huge surges in permit activity.
November’s increase built on a 49% rise in October, a 59% year-over-year surge in September, a 31% rise in August and a 6% increase in July. Before that, permit filings had fallen on a year-over-year basis in every month since December 2021.
Through the first 11 months of the year, area builders made 7,420 permit filings, down 2% from the same period of 2022. With a solid December, builders could still see 2023’s results top the previous year’s.
BAGI CEO Steve Lains said the second-half surge in filings has created industry optimism for 2024.
“2023 has been an incredibly hard year for the homebuilding industry in central Indiana,” Lains said in written remarks. “Our members have battled ever-rising prices for labor and supplies, a lack of qualified workers, and customers that, while interested in a new home, are dealing with the same inflation-related concerns. Despite the challenges we faced in 2023, our members persevered.”
County numbers
– Marion County filings rose from 58 to 117 in November, a year-over-year increase of 102%. There have been 1,331 permit filings in the county so far this year, up 10% from the same 11 months of 2022.
– Homebuilding hotbed Hamilton County saw a 164% rise in single-family permits, from 76 in November 2022 to 201 last month. Filings in the county are up 14% for the year, to 2,588.
– Johnson County experienced a 155% increase in filings, from 29 to 74.
– Boone County filings dipped 4% last month, to 66.
– Hendricks County’s permit numbers slipped 15% in November, from 46 to 39.
– Hancock County saw a 21% rise in filings, to 35.
– Morgan County had 28 permit filings last month, an increase of 40%.
– Madison County filings rose 10%, to 22.
– Shelby County saw only five filings last month, down from 10 in November 2022.
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