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Applications for new homes rise for 11th straight month in Indy area
However, the central Indiana homebuilding market has lost much of the velocity that characterized the first couple of months of 2024.
However, the central Indiana homebuilding market has lost much of the velocity that characterized the first couple of months of 2024.
Platinum Properties Management Co. plans to build Ravinia on 80 acres near West 166th Street and Eagletown Road and Winterburg on 205 acres about two miles west of Grand Park Sports Campus.
Applications for new home construction in central Indiana have risen on a year-over-year basis for eight straight months.
Residential builders Epcon Communities and M/I Homes of Indiana presented plans to the Noblesville City Council for two neighboring developments.
After years of prioritizing large homes, the nation’s biggest and most powerful home builders are finally building more smaller ones, driving a shift toward more affordable housing.
The Senate approved the measure 32-17 on Tuesday — with eight Republicans joining the opposition. It’s not clear where Gov. Eric Holcomb stands on the bill, however.
After a dismal first half, applications for new home construction rose significantly during the last six months of the year in the nine-county area.
Hamilton, Johnson and Marion counties saw huge surges in single-family building permit filings in November.
Another incentive for builders: The inventory of previously occupied homes for sale is likely to remain tight because many homeowners have locked in low mortgage rates.
Build-to-rent houses are typically built as a master-planned community with 100 to 200 houses, average monthly rents of around $2,000, and amenities.
For the first time since March 2021, every Indianapolis-area county reported growth in single-family building permit filings.
Indianapolis-based Platinum Properties Management Co.’s plans call for the Westbrook townhouse community to be built on 19 acres on the northeast side of the intersection of Moontown Road and Castamere Drive.
Liberty Village is the most recent housing development planned in Lebanon, which has approved about 800 new homes this year.
August’s jump in filings was aided by big increases in Marion, Hamilton, Hendricks and Boone counties.
Six of the area’s nine counties had rising single-family building permit numbers last month, with big increases seen in Hendricks, Madison and Morgan counties.
The Indianapolis area might be showing signs of emerging from a single-family construction slump that began early last year.
Single-family building permit filings in central Indiana have fallen on a year-over-year basis for the past 17 months and in 20 of the past 22 months.
The Indianapolis area continued to see a slump in residential construction last month despite a big jump in single-family building permits in Marion County.
Demand for new houses in central Indiana continued to lag last year’s pace in March, but longtime housing hotbed Hamilton County broke out of its recent slump.
Farmington Hills, Michigan-based Schafer Development LLC is seeking city approval to rezone the land. Pulte Homes of Indiana LLC would be the builder for the 14-acre development.