Central Indiana building permit numbers down experts say prices aren' t expected to decrease HEAD TOPICS

Central Indiana building permit numbers down experts say prices aren' t expected to decrease

10/22/2022 1:25:00 AM

New data from the Builders Association of Greater Indianapolis BAGI shows homebuilding permit numbers are down across several Central Indiana counties compared to this time last year

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WRTV Indianapolis

New data from the Builders Association of Greater Indianapolis BAGI shows homebuilding permit numbers are down across several Central Indiana counties compared to this time last year New data from the Builders Association of Greater Indianapolis BAGI shows homebuilding permit numbers are down across several Central Indiana counties compared to this time last year Data from BAGI shows permits dropped during the 2008 recession and have been rebounding ever since. During COVID-19 in 2020 and 2021, permit numbers reached levels not seen since 2007.Steve Lains, BAGI CEO, believes that right now the industry is experiencing a correction. "The reduction in permits isn't really unprecedented [with] things going on in the marketplace ... this was expected as a correction and it needed to happen because of the unprecedented growth we had in the two years post COVID," Lains said. Read more:
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