New-home applications in central Indiana see first drop since mid-2023
Single-family building permit filings in the nine-county area had risen on a year-over-year basis for 19 straight months prior to January.
Residential Real Estate
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New year opens with fewer existing-home sales, higher prices
Home sales in central Indiana got off to a slow start in 2025, with a January snowstorm likely cooling off the pace of transactions.
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City staffers seek more details on contentious Devington Plaza revamp, recommend denial of rezoning
The company’s current proposal calls for a two-phase, $100 million overhaul including more than 500 apartments, 35,000 square feet of retail and restaurant space, townhouses and a hotel.
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‘Controversial’ housing development at former Westfield tree farm receives approval
The Westfield City Council voted 4-3 to approve an expansion of the Kimblewick residential community that will be built on 87 acres on the city’s southwest side.
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Construction begins on $90M CityView apartment, retail building in Fishers
Plans call for CityView to have 191 apartments for residents ages 55 and over, 18,000 square feet of first-floor retail with two restaurant locations and a 325-space parking garage with electric vehicle charging stations.
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Articles
Pulte Homes looking to build more homes near Spyglass Falls in Fishers
The proposed development would feature ranch and two-story houses with average sales prices ranging from $500,000 to $650,000.
Fishers City Council hears plan for cap on single-family rentals, registration program for landlords
The plan calls for limiting the percentage of single-family rental units per subdivision and require landlords to register rental houses and town houses with the city.
HUD cuts expected to worsen America’s housing crisis, staffers say
HUD’s entire workforce is projected to drop by about half—from about 8,300 employees to just over 4,000—with deep cuts in field offices nationwide.
US existing-home sales drop back again with mortgage rates at 7%
The drop in sales comes after the longest stretch of gains since late 2021, which offered some hope that home buyers and sellers were getting used to high mortgage rates.
Home developer Onyx+East requests abatement for $17.5M project along Monon
The $17.5 million project, known as Monon 21, is expected to bring townhomes and single-family dwellings to the 3.5-acre site at 2060 Yandes St.
Devington Plaza task force unveils ideas as residents, developer look for path forward
The neighborhood proposal comes as the group pushes New York-based Skysoar Capital Partners to reconsider its plan for the nearly abandoned site.
Indianapolis property manager sentenced in multimillion-dollar Ponzi scheme
Herbert “Bert” Whalen, 50, pleaded guilty to conspiracy to commit wire fraud for misrepresenting the poor conditions of properties managed by his company, Indianapolis-based Oceanpointe Property Management.
Westfield City Council approves Grand Universe development plan
Plans call for the proposed $1.2 billion development east of Grand Park Sports Campus to include a full-dome planetarium, hotel, retail, offices and multifamily housing.
Longtime builder Davis Homes acquired by Fort Wayne-based investment firm
Indianapolis-based Davis Homes, which has roots dating to the 1950s, is one the largest residential builders in central Indiana.
Lennar Homes receives OK for Carmel development after big changes
Members of the Carmel City Council voted 9-0 to approve the 16-acre Towne 146 Planned Unit Development plan.
Central Indiana homebuilders close out big year with strong December
Central Indiana residential builders saw a surge in demand for new homes as 2024 came to a conclusion, making the year one of the strongest the industry has seen over the past two decades.
Cities seek limits as out-of-state investment firms gobble up homes
Communities across central Indiana are taking notice as out-of-state investment companies continue to increase their market share of single-family houses and convert them to rentals.
Existing home sales in 2024 fell to lowest level in nearly 30 years
Elevated mortgage rates, rising home prices and limited inventory have kept prospective homebuyers out of the market.
Lennar seeks to build active-adult subdivision with 360 houses in rural Whitestown
Plans call for Cardinal Estates to be built on 170 acres south of the Golf Club of Indiana.
Developer’s plan for 430-plus homes in rural Zionsville faces opposition
The Reserve at Union Woodlands would cost about $250 million to develop and take up to seven years to build.
South Carolina housing official chosen to lead troubled Indianapolis Housing Agency
Yvonda Bean will join IHA Feb. 17, less than a year after the IHA was placed under federal management.
Existing-home sales in central Indiana finish 2024 with December surge
Closed existing-home sales in the 16-county area rose only slightly from 2023 to 2024 despite a strong finish to the year.
Fishers considering cap on single-family rentals, registration program for landlords
Fishers could become the first Indiana community to cap the percentage of single-family rental houses in the city’s subdivisions.
IBJ Podcast: Inside the mind of a rising Indy apartment developer
After five years with Indianapolis-based Birge & Held, Jarod Brown decided he wanted a business with his name on the door. For his HQ, he bought the former Broad Ripple Library.