February Permit Numbers Up 49% from February of 2023; Up 15% from January of 2024; Up 55% for First Two Months of 2024

11 Apr February Permit Numbers Up 49% from February of 2023; Up 15% from January of 2024; Up 55% for First Two Months of 2024

INDIANAPOLIS (April 11, 2024) – The U.S. Census Bureau’s most recent report on building permits issued in February 2024 showed a continued upturn in the housing sector to start the year. According to the data, 1,458 single-family permits were pulled in February 2024 – a 15% increase compared to the 1,269 permits pulled in January 2024.

Furthermore, the 1,458 permits pulled in February 2024 are up 49% from the 978 permits pulled in February of 2023. The single-family permit numbers (2,727) for 2024 are up 55% compared to the first two months of 2023.

Kenny Reinbrecht, President of the Indiana Builders Association commented on the data saying, “The notable increase in single-family permits for the first two months of 2024 underscores persistent high demand coupled with dwindling single-family home inventory. This demonstrates the pressing need for increased housing supply to address the escalating demand.”