27 Apr Indiana single-family building permits up 39 percent from February
INDIANAPOLIS, Ind. – Single-family building permits in Indiana increased 39 percent in March over the previous month according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development. In March 2016, there were 1,255 single-family building permits issued compared to 1,069 in 2015, which is a 15 percent increase.
“It was another strong month for housing as we end the first quarter of 2016 with a 16 percent increase in single-family building permits,” said Indiana Builders Association Chief Executive Officer Rick Wajda. “We hope the trend continues through the spring and into the summer months.”
The National Association of Home Builders/Wells Fargo Housing Market Index remained at 58 in April. Any number over 50 indicates that more builders view conditions as good than poor.
“For the third consecutive month, builder confidence has held firm at 58, showing that the housing market continues to recover at a slow but consistent pace,” said Wajda. “With increased job creation and a growing economy, we expect to see continued gains in the coming months.”
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.