January 2024 Permit Numbers Up 62% from January of 2023; Up 15% from December of 2023

INDIANAPOLIS (March 12, 2024) – The U.S. Census Bureau’s most recent report on building permits issued in January 2024 marked a significant upturn in the housing sector. According to the data, 1,269 single-family permits were issued in January 2024 - a 62% increase compared to the 783 permits issued in January 2023.  

Furthermore, the surge in single-family permits is not limited to the year-over-year comparison alone. January 2024 permit numbers are also up by 15% when compared to the preceding month, December 2023, during which 1,105 permits were issued. 

Rick Wajda, CEO of the Indiana Builders Association commented on the latest findings saying, “The surge in single-family permits in January 2024 is a positive sign for the housing market, reflecting continued strong demand with a shortage of single-family home supply on the market. It serves as a testament to the enduring strength of demand amidst a backdrop of dwindling single-family home inventory. This surge not only signifies robust consumer interest but also underscores the pressing need for an augmented supply to meet the burgeoning 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.