(INDIANAPOLIS) – The U.S. Census Bureau recently released statewide totals for building permits issued in February of 2019 and shows 920 single-family permits were pulled.
This number is up 8 percent from January of 2019 when 854 permits were pulled. The 920 permits pulled in February of 2019 are down 9 percent from of 2018.
“The statistical decrease in permit numbers is nothing to be alarmed about yet,” says Indiana Builders Association President Don Thieneman. “However, if a solution to our housing affordability issues is not addressed soon, builders will simply not be able to meet the growing demand for new construction.”
Housing affordability has been cited as the dominant factor in builder confidence this season by the National Association of Home Builders. Excessive regulations, a scarcity of buildable lots, persistent labor shortages and tariffs on lumber and other key building materials are all factors in the ability for builders to create housing at affordable and competitive price points.
“While the decrease in permits for February is a little deceiving, we are still taking caution for 2019 as affordability factors continue to pose a threat to our builders,” says IBA Chief Executive Officer Rick Wajda. “We will continue to monitor housing permit data closely, understanding that it is still too soon to tell if a construction downturn looms.”
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 organized into eight geographic areas across Indiana. IBA, along with its affiliates, is 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.