(INDIANAPOLIS) – The U.S. Census Bureau recently released statewide totals for building permits issued in October and shows 1,953 single-family permits were pulled, the highest single-month total for permits since 2007.
The 1,953 permits pulled in October of 2020 are up 29% from the 1,518 permits pulled in October of 2019. This number is up 1% from September of 2020 when 1926 permits were pulled.
The single-family permit numbers (13,522) for 2020 are up 13% compared to the first ten months of 2019.
“Home buying traffic remains very strong as we wrap up single-family permit pulls from October. Even with attention turned towards the tumultuous elections we saw this season, October still came out as one of the better months for home building Indiana has seen in a while. Low mortgage rates and high demand for new homes made for a continuation of high permit-pulls. However, we are carefully monitoring the inevitable slowing of pace in new home builds to allow the sales of these homes to catch up,” said Indiana Builders Association CEO Rick Wajda.