The Builders Association of Greater Indianapolis (BAGI) says that in the Greater Indianapolis Nine‐County area, single‐family building permits have increased 12 percent compared to 2015 numbers and they increased by five percent over last month.
In July 2016, there were 3,459 new home permits issued year‐to‐date compared to 3,076 last year, with Hamilton County and Hendricks County pulling in the biggest numbers in the suburban metro area.
Pulte’s Vandalia project in Hendricks County is the largest project in the City of Plainfield resulting in the county’s largest permit numbers nearing 180 so far this year.
“Since its grand opening late last year, Vandalia by Del Webb has attracted empty nesters who are looking for a great location and easy access to amenities,” said Scott Mairn, division president of PulteGroup Indiana. “As the only 55-plus active adult community of its kind in Hendricks County, we found a great demand for consumer inspired housing options coupled with the active Del Webb lifestyle. We have experienced solid traffic and sales pace with the first homeowners moving in this past spring and expect its continued success as this segment of the market continues to grow.”
Additionally, the City of Westfield in Hamilton County recorded nearly 400 permits so far this year with substantial development projects in the works across the community.
“The counties which are experiencing these development bursts are counties where local municipalities are investing in amenities that residents and businesses want to be near,” says BAGI CEO Steve Lains. “Cities with developments near amenities like parks, trails, retail shopping and restaurants are attractive to homebuyers. We are especially seeing the demand with the millennials and empty‐nesters who are becoming a huge factor in our marketplace.”
Permits issued in the Indianapolis region in July 2016 have created a total economic impact of $619,450,875 in local income, $140,625,0756 in local taxes, and 10,488 local jobs, BAGI says.
Chart below: County, permits issued, local income, local taxes, number of jobs created