26 Apr Housing Booms in Indiana for Quarter One
INDIANAPOLIS, Ind. –According to data from the United States Census Bureau, single-family building permits show a 52% increase from February 2018 to March 2018. The 1,537 permits pulled in March of 2018 are up 8% from March of 2017 when 1,426 permits were pulled. The year is off to a solid start as data indicates a 6% increase in building permits for the first quarter of 2018.
“This large increase is no surprise as builders are ramping up production to meet the growing demand for homeownership.” said Indiana Builders Association President Pat Richard. “Right now, more than ever, it is important that we continue to develop our workforce, communicating to Indiana students and teachers the attractiveness and sustainability of the building industry.”
Currently, Indiana has reported an average of over 3,000 annual job openings in construction and similar fields. The state projects that by 2024 there will be over 30,300 construction trade jobs to be filled. In March of 2018, the Indiana Builders Association, in partnership with the Builders Association of Greater Indianapolis and The Indiana Construction Roundtable Foundation, rolled out a new workforce development program to spread awareness about the vast amount of employment opportunities available in construction and other trades. Local employers, associations and schools are encouraged to conduct job fairs, panel discussions and local community events to inform students of the benefits of choosing a career path in skilled trade industries.
“It is projected that the housing market remain favorable throughout 2018 as economic development and employee wages continue to increase in many parts of the state” said Indiana Builders Association Chief Executive Officer Rick Wajda. “As we continue to fight for housing affordability and safety, builder confidence in the marketplace will equally fall in line with the spur of single-family housing demand.”