Indianapolis Home Builders kicked off the new year with a huge bang in metro area. Check out these first quarter permit numbers compared to 2009 for the metro area: Boone County: +118%, Hamilton County: +62%, Hancock County: + 39%, Hendricks County: +121%, Johnson County: +155%, Madison County: +100%, and Marion County: +35%.
It's interesting because the tax credit could not have single handedly driven this. In most cases, you would have had to sell the house in December and January and have the permit by February 1st to have a great chance at finishing the house by the June 30th deadline. Even at with a quicker four month build time, you would have had to have your act together by March 1st to get the house done in time. That said, you would think that these numbers are front loaded to the beginning of the quarter and they are not. Fishers, for example, the highest volume submarket pulled HALF of it's quarters permits in March - giving those builders no chance of finishing by the deadline.
So while many agents are potentially shunning the builders (that don't have specs) for resale homes that can close in tax credit time constraints, the builders are still holding their own.
Top 10 Indianapolis New Home Building Markets Based on 2009 Permets
| Sub Market | Total Permits |
| Fishers | 478 |
| Noblesville | 398 |
| Franklin | 259 |
| Hendricks Co | 205 |
| Carmel | 204 |
| Boone Co | 192 |
| Westfield | 187 |
| Avon | 156 |
| Johnson Co | 128 |
| Brownsburg | 122 |
Top 10 Builders by 2009 Permits
| BUILDER | 2009 TOTAL PERMITS | MARKET SHARE |
| Beazer | 584 | 18.4% |
| Westport | 362 | 11.4% |
| Ryland | 346 | 10.9% |
| Arbor | 307 | 9.7% |
| Pulte | 233 | 7.4% |
| MI | 196 | 6.2% |
| Estridge | 165 | 5.2% |
| Centex | 154 | 4.9% |
| Drees | 86 | 2.7% |
| Paul Shoopman | 59 | 1.9% |
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