March permit numbers up 14% from March of 2023; Up 14% from February of 2024; Up 36% for first three months of 2024

24 Apr March permit numbers up 14% from March of 2023; Up 14% from February of 2024; Up 36% for first three months of 2024

INDIANAPOLIS (April 24, 2024) – The U.S. Census Bureau’s most recent report on building permits issued in March 2024 showed a continued upturn in the housing sector for the first quarter of the year. According to the data, 1,656 single-family permits were pulled in March 2024 – a 14% increase compared to the 1,458 permits pulled in February 2024.

Moreover, the 1,656 permits pulled in March 2024 are up 14% from the 1,454 permits pulled in March of 2023. The single-family permit numbers (4,383) for 2024 are up 36% compared to the first quarter of 2023.

Rick Wajda, CEO of the Indiana Builders Association commented on the data, saying, “The continued surge in single-family permits throughout first quarter of 2024 reflects continued strong demand alongside a shortage of single-family home supply on the market. This growth underscores the pressing need to increase inventory to meet the rising demand.”