Brought to you by WBIW News and Network Indiana
Last updated on Wednesday, October 31, 2018
(INDIANAPOLIS) - According to the most recent data from The United States Census Bureau, Indiana has seen a 6% increase in new residential construction starts for the first nine months of 2018. The 1,277 permits pulled in September of 2018 remain flat from the data pulled in September of 2017.
"Amid recent economic challenges, builder confidence is continuing to escalate as the demand for new housing follows," said Indiana Builders Association President Pat Richard.
Permit numbers did decrease substantially between the months of August 2018 and September 2018, however, this August-September drop is a repeating trend according to the historical data released by the United States Census Bureau over the past ten years.
"The housing outlook for 2018 remains favorable as the Hoosier economy grows stronger with positive demographic tailwinds," said Indiana Builders Association Chief Executive Officer Rick Wajda. "Going into a pivotal election next week, the main concern we will focus on our policies that address housing affordability which is currently being affected by various supply-side challenges."
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 24 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.
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