Building Permits in Greater Indianapolis for September 2012
Nationally, building permits for single-family properties in September were at a rate of 545,000; this is 6.7 percent above the revised August figure of 511,000, and 27.3 percent above September 2011. Building permits for privately-owned housing units were at a rate of 894,000 in September; 11.6 percent above last month’s rate of 801,000 and 45.1 percent above September 2011.
The single-family building permit numbers are a positive sign for the market as they suggest that homebuilders feel confident in low inventories and are willing to delve back into the market despite tight financing that often require self-funding of projects.
Within Greater Indianapolis, Hamilton County had the greatest number of building permits in September with 129, totaling 1,257 for 2012. The city of Indianapolis had the most building permits in September with 41, followed by Fishers & Noblesville each with 35. Overall, there have been 3,191 building permits in the nine-county Greater Indianapolis.
Construction is up, which is a good sign of the sustainability of the low inventory levels which have driven price growth and buyer confidence.
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