(INDIANAPOLIS) – Statewide totals for building permits issued in July show 1521 single-family permits were pulled, according to reports by the U.S. Census Bureau. This number is up 2% from June of 2019, when 1490 permits were pulled.
The 1521 permits pulled in July of 2019 are up 2% from the 1497 permits pulled in July of 2018. The 9,251 single-family permit numbers for 2019 are down 5% compared to the first seven months of 2018.
“Home sales are moving toward a slightly positive trend upward,” said Indiana Builders Association President Don Thieneman. “Hoosier builders are remaining confident in new Indiana residential construction with this mid-summer turn around.”
According to the National Association of Home Builders, new home sales were sharply revised upward in June to a post-recession high annual rate of 728,000 nationally. The inventory of new homes for sale was 337,000 in July, representing a 6.4 months’ supply. The median sales price was $312,800. The median price of a new home sale a year earlier was $327,500.
The U.S. Census Bureau releases permit data monthly for the previous month’s data. August’s permit data will be released at the end of September.
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.