U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines. Construction faltered, however, in the Midwest.
Permit filings for home construction in central Indiana fell 5 percent last month, the first decline the market has seen since January.
Filings in the nine-county metro area have shown slight year-over-year improvement in four of this year’s six months.
U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year.
Growing demand for high-end, low-maintenance living is fueling an apartment-building boom in Indianapolis’ northern suburbs—and raising concerns among some leaders about the risks of adding too much too fast.
Old standbys are have been replaced by new features and colors. The changes range from rooms to styles.
Homebuilders filed 530 single-family building permits in the metro area in May. That’s exactly the same number of permits that were filed in May 2013. Local construction numbers were better than national figures.
On a year-over-year basis, home-construction permit filings in the nine-county area have risen in 13 of the last 16 months.
The sharpest sales increase occurred among homes priced at $1 million or above. Sales fell in nearly every other price group.
The central Indiana home-construction industry saw its second straight month of improving activity in March following a bitter winter that slowed business.
The Bloomington City Council is giving permission to a Habitat for Humanity group to develop a neighborhood with 35 homes.
Pricier houses are vanishing from the market faster than less-expensive homes due to a temporary bottleneck caused by rising demand and a slow recovery by builders.
The central Indiana home-construction industry saw a small rise in business in February, the Builders Association of Greater Indianapolis reported Tuesday.
Homebuilders filed roughly the same number of building permits in central Indiana last month, 300, that they did in January 2013. The severe winter weather has kept builders at bay, the Builders Association of Greater Indianapolis said.
Single-family building permits in the nine-county Indy metro area surged in December, ending a two-month decline in filings.
Despite the monthly decline, year-to-date permit filings are up 18 percent over 2012. This year’s number through 11 months has already exceeded 2012’s full-year total.
Poised for a development boom in those heady days before the real estate market collapsed, Westfield appears back on track for growth. Residential activity never stopped, but builders are picking up the pace in response to increasing demand. If history holds true, a commercial construction blitz will come next.
Slow but steady growth in central Indiana’s new-home market has chipped away at the supply of available lots, leaving developers and builders scrambling to keep up with demand.
The central Indiana home construction industry reversed course in October, with a rare year-over-year decrease in the number of single-family building permits filed. The drop follows a recent downward trend.
Single-family-building permit filings rose 8 percent in the nine-county area in September, marking the 15th straight month of year-over-year increases, the Builders Association of Greater Indianapolis reported Tuesday.
