27 Jul Indiana single-family building permits up 11 percent in June
INDIANAPOLIS, Ind. – Single-family building permits in Indiana increased 11 percent in June over the previous month while numbers increased 3 percent in June compared to the same time last year according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development.
In June 2015, there were 1,309 single-family building permits issued compared to 1,276 in 2014. Single-family permits for the first half of 2015 are up 1 percent compared to the first half of 2014.
“It is encouraging to see a steady improvement in June permit numbers over the past five years,” said Indiana Builders Association President Linda Rogers. “We anticipate seeing a continued recovery of the housing market throughout the remainder of the year.”
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builder confidence hit a level of 60 in July. A reading above 50 means most builders generally hold a favorable view of the market for newly built, single-family homes. The last time the HMI reached this level was November 2005.
“The fact that single-family permits for the first half of 2015 are higher than last year gives us hope that we continue to see more homes being built in our communities,” said Rogers. “We will continue to advocate for safe and affordable housing for Hoosiers across the state.”
About the Indiana Builders Association
The Indiana Builders Association (IBA) is a statewide trade organization representing Indiana’s home building, remodeling and light commercial construction industry. Established in 1952, IBA has 27 local affiliates organized into nine geographic areas across Indiana. IBA, along with its affiliates, are associated with the National Association of Home Builders in Washington, D.C. The organization works to educate its members, the general public, elected officials and regulatory bodies to maintain and develop workable and affordable regulations and laws that enable the citizens of Indiana to own a home. More information can be found at www.buildindiana.org.