19 Mar Single-Family Permit Data for 2018 Released
INDIANAPOLIS, Ind. –The United States Census Bureau has released data on Indiana home building in 2018, amid a delay caused by the federal government shutdown. The data indicates a 6% increase for single-family construction starts in 2018 compared to 2017, and a 4% increase for the month of December 2018.
“2018 was a busy year for our builders as we worked hard to meet growing demand, amid supply-side challenges that continue to threaten the speed and affordability of production” said Indiana Builders Association President Don Thieneman. “This year our focus will be on advocating the importance of a vibrant housing market, as it is critical to a strong economy.”
According to the association’s national economist, the housing outlook for 2019 is projected to be relatively flat, with no significant change in single-family permit activity from the previous year.
“As Indiana welcomes more families through recent economic and workforce development, we have seen an increase in buyer’s demand, keeping our builders positive for the upcoming selling season.” said Indiana Builders Association Chief Executive Officer Rick Wajda. “However, the challenges that loomed in 2018 still remain of growing concern to our industry. This year we will continue to tackle the rising costs from regulations, the shortage of buildable lots, a lack of skilled labor and tariffs on building materials, all of which affect our ability to create housing at affordable price points. ”