INDIANAPOLIS – Indiana Single-family home construction permits are up 8% from July and also up 8% from August of last year.
Overall the state stands at a 7% total increase for the first eight months of 2018 compared to 2017.
Indiana Builders Association President Pat Richard said “This statistical increase shows that Indiana residents still have a strong demand for newly built homes. Our builders are continuing to work hard and meet homeowner expectations, fully aware of the ongoing affordability concerns that surround our industry.”
Builder confidence in the market for newly built single-family homes remains unchanged in September at 67, 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.
Indiana Builders Association Chief Executive Officer Rick Wajda said “Although we see an increase in starts for August, we are likely to see new home starts slow down a bit in the months ahead as we ease out of the proverbial building season. As we push forward, we are keeping a pulse on the continuing regulatory burdens for new home construction as well as the increasing costs on building materials due to tariffs imposed on a wide range of products.”