Indiana Builders Association responds to year-end building permit numbers; Indiana up 17%
The U.S. Census Bureau recently released statewide totals for building permits issued in December and shows 1,678 single-family permits were pulled, the highest December total for permits since 2005. The 1,678 permits pulled in December of 2021 are up 6% from the 1,548 permits pulled in December of 2020. This number is up 4% from November of 2021, when 1,610 permits were pulled. The single-family permit numbers (21,830) for 2021 are up 17% compared to permits pulled in 2020.
“We ended 2021 on a strong note and expect to continue to see upward trends in the first half of 2022 due to the backlog of sales which have yet to start. Delays caused by supply chain disruptions, lumber tariffs, labor shortages, and building material product price increases continue to impact prices. Imminent interest rate hikes, in an effort to curb inflationary pressures, are expected to negatively impact housing starts in the coming months as mortgage rates increase, says Indiana Builders Association President, Paul Schwinghammer.
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 21 local affiliates across Indiana and is associated with the National Association of Home Builders in Washington, D.C. IBA educates and advocates for the construction industry to positively impact legislative, regulatory and legal issues that affect housing affordability. More information can be found at www.buildindiana.org.