February Permit Numbers Up 49% from February of 2023; Up 15% from January of 2024; Up 55% for First Two Months of 2024

INDIANAPOLIS (April 12, 2024) - The U.S. Census Bureau’s most recent report on building permits issued in February 2024 showed a continued upturn in the housing sector to start the year. According to the data, 1,458 single-family permits were pulled in February 2024 – a 15% increase compared to the 1,269 permits pulled in January 2024. 

Furthermore, the 1,458 permits pulled in February 2024 are up 49% from the 978 permits pulled in February of 2023. The single-family permit numbers (2,727) for 2024 are up 55% compared to the first two months of 2023. 

Kenny Reinbrecht, President of the Indiana Builders Association commented on the data saying, “The notable increase in single-family permits for the first two months of 2024 underscores persistent high demand coupled with dwindling single-family home inventory. This demonstrates the pressing need for increased housing supply to address the escalating demand.”

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ABOUT IBA: 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 20 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.