Builders Association of Greater Indianapolis family home permits rise for 14th straight month

Single-family home permits are on the rise in the nine-county greater Indianapolis area for the 14th straight month. (Submitted graph)

The Builders’ Association of Greater Indianapolis recently released numbers reflecting that its nine-county greater Indianapolis area single-family home permits rose for the 14th straight month

The numbers rose 7 percent compared to January 2016. As January 2017, there were 345 new permits issued year to date.

“During the winter months, we typically see a drop in permit numbers, so we are very excited to report another month of rising numbers,” BAGI CEO Steve Lains stated in a press release. “We are seeing surges in the 55-plus housing market along with the multifamily housing market which helps offset some of the regulatory struggles prohibiting local builders from keeping up with demand for housing in an affordable price range.”

Hamilton County again has the most single-family home permits with 137 in January. The next highest is Marion County with 53.

According to the press release, permits issued in January created an economic impact of $61,783,912 in local income, $14,025,971 in local taxes and 1,046 local jobs.

For more, visit bagi.com.