New Home Permits Up In Central Indiana
Some encouraging news when it comes to home building in Central Indiana.
The Builders Association of Greater Indianapolis says building permits for single-family homes jumped 16-percent in 2012 over 2011. Home permits in 2012 reached 4,182. Builders Association CEO Steve Lains says it's the first time since 2008 that year-end permits reached the 4,000 mark. In 2008, 4,564 permits were issued. Lains says they had anticipated a 10-percent increase in 2012.
He says the latest figures show the housing recovery was stronger than even the industry expected. He adds the rise shows consumer confidence is up, the job market is stabilizing and people are getting back into the market. Lains says home remodeling is also increasing. He expects both trends to continue through this year barring unforeseen circumstances.