May permit numbers down 1% from May of 2023; Down 20% from April of 2024; Up 26% for first five months of 2024

27 Jun May permit numbers down 1% from May of 2023; Down 20% from April of 2024; Up 26% for first five months of 2024

INDIANAPOLIS (June 27, 2024) – The U.S. Census Bureau’s most recent data on building permits issued in Indiana show a slowdown in the housing sector for the first time this year. According to the data, 1,661 single-family permits were pulled in May 2024 – a 20% decrease compared to the 2,073 permits pulled in April 2024. The May 2024 figure also depicts a 1% decline from the 1,677 permits issued in May 2023.

Despite these recent declines, there has been a notable 26% increase in permit numbers for the first five months of 2024 (8,117) compared to the same period last year (6,459).

Rick Wajda, CEO of the Indiana Builders Association commented on the data, saying: “While the month-to-month and year-over-year figures show some slowdown, the overall growth we’ve seen in the first five months of 2024 is encouraging. The 26% increase compared to last indicates that there is still strong demand and a positive outlook for the housing sector in Indiana.”