INDIANAPOLIS, Ind. - The number of new home build permits issued in central Indiana for 2016 was the most in nearly a decade.
Last year in the Builders Association of Greater Indianapolis' nine county territory, builders requested 5,778 permits, a 13 percent increase compared to 2015 and the most since 2007.
Hamilton County led the way with 2,198 permits issued. The City of Westfield issued more building permits than any other city in Central Indiana with 687. Fishers was second with 612.
Century 21 Sheetz realtor Emily Bowman said this trend of more new builds is partly because of an improving economy, but also because of the competitive the housing market.
She explained in Fishers the inventory of homes less than $250,000 in down nearly 8 percent compared to last year forcing many potential buyers to look at different options.
“We are seeing a lot of people that would have bought an existing home are forced to go to the new build market," Bowman said. “We got a big gap to bridge right there for the numbers of buyers that are out there versus the number of homes on the market.”
Marion County came in second for the number of new home build permits in 2016 with 948 and Hendricks County wasn't far behind with 932.