15 Nov Indiana Residential Construction Up for 2018
According to the most recent data from The United States Census Bureau,
Indiana has seen a 6% increase in new residential construction starts for the first nine months of 2018. The 1,277 permits pulled in September of 2018 remain flat from the data pulled in September of 2017.
“Amid recent economic challenges, builder confidence is continuing to escalate as the demand for new housing follows,” said Indiana Builders Association President Pat Richard.
Permit numbers did decrease substantially between the months of August 2018 and September 2018, however this August-September drop is a repeating trend according to the historic data released by the United States Census Bureau over the past ten years.
“The housing outlook for 2018 remains favorable as the Hoosier economy grows stronger with positive demographic tailwinds” said Indiana Builders Association Chief Executive Officer Rick Wajda. “Going into a pivotal election next week, the main concern we will focus on are policies that address housing affordability which is currently being affected by various supply-side challenges.”