Central Indiana homebuilders see busiest year since 2006
Article published by: Indianapolis Business Journal
Central Indiana homebuilders saw another onslaught of interest from buyers in December, adding to their busiest year since 2006.
Builders in the nine-county Indianapolis area filed 788 single-family building permits during the month, up 82% from December 2019, marking the 13th time in the last 14 months that filings have risen on a year-over-year basis.
Area builders made a total of 8,669 permit filings in 2020, more than any single year since 2006, when 9,514 permits were filed. Filings were up 24% over last year’s pace.
BAGI chief executive Steve Lains said builders had a huge year despite the pandemic.
“We have concluded this unprecedented year with significant growth in new home construction,” Lains said in written remarks. “Other than the slight stall we saw in March and April, the demand for new housing has consistently surpassed expectations throughout the year, leading to our highest year in permits since the downturn. The demand driving these increases continues to persist despite dwindling lot inventory and COVID-related supply chain challenges, and we are optimistic about 2021’s demand projections as we begin a new year.”
– Marion County was the only area county to see a year-over-year decline in permits, from 1,390 in 2019 to 1,348 in 2020, a decrease of 3%.
– December filings in Marion County rose 21% on a year-over-year basis, to 102.
– Hamilton County saw 284 filings last month, an increase of 118%. Total-year filings rose 13%, to 2,607.
– Hendricks County’s numbers were up 34% in December, to 90. Total-year filings rose 50%, to 1,374.
– Hancock County saw December permits jump 325%, to 68. Total-year filings rose 45%, to 840.
– Johnson County saw a 115% increase last month, to 116. Total-year filings rose 27%, to 955.
– Filings rose 37% in Boone County last month, to 56. Total-year filings rose 29%, to 659.
– Madison County filings increased 378% in December, to 43. Total-year filings rose 153%, to 470.
– Morgan County filings dipped from 26 to 20 in December, but were up 18% on the year, to 303.
– Filings rose from six to nine in Shelby County during the month and were up 55% on the year, to 113.