INDIANAPOLIS, Ind. – Single-family building permits in Indiana decreased 4 percent in April compared to the same time last year according to the latest data from the U.S. Census Bureau. Permits decreased by 8 percent between March and April of this year, however, statistics show an overall 10 percent increase for permits in the first four months of 2017.
“Despite a statistical decrease, we are optimistic that the housing industry remains strong, having more permits thus far than we did in 2016,” said Indiana Builders Association Chief Executive Officer Rick Wajda. “Indiana should expect to see an active increase in home building as we enter the warmer months.”
In April 2017, there were 1,308 single-family building permits issued compared to 1,359 in April of 2016.
Builder confidence in the market for newly built single-family homes increased two points in May to 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any number over 50 indicates that more builders view sales conditions as good than poor.
“The House Marketing Index looks promising as this is the second highest HMI reading since the industry’s downtown,” said Wajda. “Homeownership remains a key part of the American Dream, and as existing home availability becomes narrower, we can anticipate a healthy demand for home buying.”
About the Indiana Builders Association
The Indiana Builders Association (IBA) is a statewide trade organization representing Indiana’s home building, remodeling and light commercial construction industry. Established in 1952, IBA has 25 local affiliates organized into eight geographic areas across Indiana. IBA, along with its affiliates, are associated with the National Association of Home Builders in Washington, D.C. The organization works to educate its members, the general public, elected officials and regulatory bodies to maintain and develop workable and affordable regulations and laws that enable the citizens of Indiana to own a home. More information can be found atwww.buildindiana.org.