INDIANAPOLIS, Ind. – Single-family building permits in Indiana increased 5 percent in May over the previous month according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development. Permits increased 20 percent in May compared to the same time last year.
In May 2016, there were 1,426 single-family building permits issued compared to 1,184 in 2015. The single family permit numbers for the first five months of 2016 are up 16 percent compared to the first five months of 2015.
“The improved housing market is encouraging and we look forward to continued growth in housing production in the second half of 2016,” said Indiana Builders Association Chief Executive Officer Rick Wajda.
The National Association of Home Builders/Wells Fargo Housing Market Index rose 2 points in June to 60 – the highest reading since January. Any number over 50 indicates that more builders view conditions as good than poor.
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 27 local affiliates organized into nine geographic areas across Indiana. IBA, along with its affiliates, are 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.