INDIANA –“The strong permit numbers are indicative of a robust building climate in the Hoosier state as the demand for new homes far exceeds supply. The price escalation due to material shortages and supply chain disruptions continue to cause challenges for our industry moving forward as well as the anticipation of higher interest rates in the coming months,” says Indiana Builders Association President, Paul Schwinghammer.
Background:
The U.S. Census Bureau recently released statewide totals for building permits issued in January and shows 1,539 single-family permits were pulled, the highest January total for permits since 2006. The 1,539 permits pulled in January of 2022 are up 10% from the 1,398 permits pulled in January of 2021. This number is down 8% from December of 2021 when 1,678 permits were pulled.
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 21 local affiliates across Indiana and is associated with the National Association of Home Builders in Washington, D.C. IBA educates and advocates for the construction industry to positively impact legislative, regulatory, and legal issues that affect housing affordability. More information can be found at www.buildindiana.org.
