02 Jul May permit Numbers up 3% from April; Down 1% from May of 2018
INDIANAPOLIS (July 2, 2019) – The U.S. Census Bureau recently released statewide totals for building permits issued in May of 2019 and shows 1649 single-family permits were pulled. This number is up 3% from April of 2019, when 1602 permits were pulled. The 1649 permits pulled in May of 2019 are down 1% from the 1663 permits pulled in May of 2018.
“This steady rise in permit pulls is heartening,” says Indiana Builders Association President Don Thieneman. “Affordability concerns are still prevalent, but the increase permits in May is a positive sign for the Indiana housing market. The 1% decreases from last years’ permit data could be due to weather constraints that are affecting the development of new lots and production of new homes.”
According to the National Association of Home Builders, new home sales picked up in March and April of this year. Builders continue to grapple with excessive regulations, a shortage of lots and lack of skilled labor that are hurting affordability and depressing supply.
The U.S. Census Bureau releases permit data monthly for the previous month’s data. June’s permit data will be releases at the end of July.
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 23 local affiliates and nearly 3,000 member companies 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.