Indiana sees changes to housing market

The housing market in Indiana is crazy, but it’s not just a rush of people trying to buy houses. It’s also a surge in the number of people building new homes. Single-family building permits in central Indiana have gone up 66% compared to last year at this time, according to the Builders Association of Greater Indianapolis. That’s despite the cost of building materials skyrocketing. BAGI says the cost of framing lumber composite has increased 317% compared to last year. CEO Steve Lains says “these increases are being felt by both the builders and consumers as they try to meet the market demand,” and yet, “the demand has not shown signs of wavering.” He says record-low interest rates are a main reason.