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home : most recent : economy July 21, 2017


7/12/2017 6:32:00 PM
Rising building permits around Elkhart County show strength in Indiana's housing market
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Jordan Fouts, Elkhart Truth

Single-family building permits in Indiana increased 12 percent in May compared to the same time last year, according to the Indiana Builders Association.

There were 1,604 single-family building permits issued in May 2017 in Indiana, a 12 percent increase from the 1,426 of May 2016. It's also a 23 percent increase from April 2017, during which 1,308 new home permits were issued.

This marks a 10-year high for the month of May, says the IBA, which cites U.S. Census Bureau data. May's numbers bring the state total to 6,141 permits for the first five months of 2017.

"This substantial increase reflects the continual growth of the state's healthy housing market," said IBA President Lance Swank. "Home building has reached a peak we have not seen since 2007, therefore, Hoosiers are confident Indiana remains a great place to both buy and build a home."

New home build permits in Indiana peaked in 2007 with a total of 19,374. They dropped sharply the following year, to 11,831, and only in 2016 did the numbers rise above the 13,000 mark to see 13,985 permits issued.

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