Indianapolis Building Permits Continues to Decline

Indiana

2022/12/08

As interest rates continue to climb, the number of building permits continues to decline. Builders in the 9-county Indianapolis area filed 457 single-family building permits in October, ↓ 46% yearly. Permit filings have fallen on a yearly basis for the past 10-mo. It is expected the trend to continue with home construction sales ↓ 25% through 2023.