Builders in the nine-county Indianapolis area are seeing their busiest year since 2005 despite soaring lumber prices and snarled supply chains that have made it difficult to get products to complete new homes.
So far this year, 2,717 single-family building permits have been filed in the nine-county Indianapolis area, up 48% over the first three months of 2020.
February’s snowstorms failed to put a chill on demand for new homes in central Indiana, the Builders Association of Greater Indianapolis announced Wednesday.
Fresh off their busiest year since 2006, area homebuilders continued to see heavy interest from buyers in January, the Builders Association of Greater Indianapolis announced Wednesday.
Builders in the nine-county Indianapolis area filed 694 single-family building permits in November, up 47% from the same month of 2019.
The Indianapolis area’s most active home builder is bringing one of its frequent collaborators in-house to help develop more lots.
Area homebuilders have made 7,181 single-family building permit filings through the first 10 months of 2020. That’s already more than they’ve filed in any full year since 2007.
Permit filings are up 12% so far this year compared with the first eight months of 2019, despite the pandemic.
Residential builders Drees Homes and Epcon Communities presented plans to the Westfield City Council on Monday for three different developments in the city.
Area new-home construction filings jumped 12% last month, marking the 11th time in the last 13 months that filings have risen on a year-over-year basis.
Permit filings had been on the rise in nine of the last 10 months before pandemic-related issues finally took a toll on numbers last month.
Applications for home construction permits rose 5% in the Indianapolis area in April, marking the ninth monthly increase in the past 10 months on a year-over-year basis.
Interest in buying new homes in central Indiana surged dramatically in the first quarter, before the affects of the COVID-19 pandemic began taking its toll on the economy.
Applications for home construction permits soared 34% in the Indianapolis area in February. The flurry of new applications came before the first cases of COVID-19 hit Indiana.
Spending on U.S. construction projects rose 1.8% in January, helped by strong gains for home construction and government building projects.
Applications for home construction permits in the Indianapolis area rose in January, marking the sixth monthly increase in the past seven months.
A big December was not quite enough to make last year’s construction pace exceed 2018’s. It was the first year since 2011 that fewer single-family building permits were filed in the area than in the previous year.
Applications for home construction fell 15 percent in November, which means Indianapolis-area builders will need a huge December to match 2018’s numbers.
According to filings with the city, the project would consist of 17 two-story town houses over two blocks along East 16th Street.
Single-family construction permits in the nine-county area have risen for four months in row on a year-over-year basis following seven straight months of declines.
