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The U.S. Census Bureau's latest data indicates a significant rebound in building permits issued in Indiana, following a dip the previous month. In June 2024, 1,921 single-family permits were issued, marking a 16% increase from May 2024's total of 1,661 permits. This June figure also represents a 12% rise compared to the 1,720 permits issued in June 2023.
Overall, the industry has seen a strong 23% growth in permit numbers during the first half of 2024 compared to the same period last year. So far in 2024, 10,038 single-family permits have been issued, up from 8,179 during the first six months of 2023.
Kenny Reinbrecht, President of the Indiana Builders Association commented on the data, saying: “The rise in building permits during the first half of the year is an encouraging sign for Indiana's housing market. It reflects a strong demand for new single-family homes amidst the current shortage of supply on the market.”