Applications for new homes fell for the second month in a row on a year-over-year basis in central Indiana in September, according to the latest statistics from the Builders Association of Greater Indianapolis, or BAGI.

Builders filed 839 single-family building permits in the nine-county area last month, a decrease of 14% compared with the 975 permits that were filed in September 2024, BAGI said.

The year-over-year decline was the fourth during the first nine months of 2025 on a year-over-year basis following a streak of 20 straight months of rising applications.

So far in 2025, 7,911 permits have been filed overall in the area, up 1% from the 7,797 that were filed in the first nine months of 2024.

Only three of the area’s nine counties saw increases in filings, including Hamilton County, which broke a six-month streak of declines (see county-by-county results below). Noblesville accounted for about 42% of the filings in the county.

Meanwhile, Marion County saw a significant drop in filings, as did Johnson County.

Chris Hancock, CEO of the BAGI, said the local market is mirroring national trends as builders grow more cautious amid economic uncertainty and elevated borrowing costs.

“After a strong summer, we’re seeing the market take a natural pause as builders recalibrate for the end of the year,” he said.

Copyright © 2025 All Rights Reserved.