All posts categorized under ‘Market Conditions’
The saying goes, “if you know where you’ve been, then you can predict where you are going”. Not sure that is always true, but in this case it probably is. Last month, and for a number of months now in a row, sales of residential properties here in central Indiana have increased compared to the same period last year, and the number of homes on the market have declined.
Did you hear the story about what’s happening in the local real estate market? It is so awful, so slow, that only a small percentage of all homes on the market were selling. And, most of the homes on the market are foreclosures or bank owned properties. Also, those homes that did manage to sell…sold for 70 cents on the dollar. Every one of them.
Believe it or not, I hear a version of this often
If you read some of the articles in the newspaper you’d think that the local residential real estate is in the tank. Right? Well, that’s far from the truth actually. What’s really going on is vastly different. The best way to explain what is actually going on is just to tell the truth, quantifying the amount of activity to put things in perspective. There were over 1600 homes with sales that pended
The residential market has some challenges these days, but in a free market dictated largely by supply and demand, whenever there is a minus someplace, there will be a plus someplace else. The positves: Home prices are generally more affordable now, and when coupled with today’s interest rates, they add up to a huge plus. Interest rates now are very close to the lowest ever available in history for refinances and
The residential market in central Indiana continues its positive gains in all the right areas. The number of sales last month increased about 7 percent compared to the same month last year with nearly 1,900 homes sold in August. What’s even more significant is the number of homes on the market continues to decline. Important because as inventory tightens, prices stabilize too. Less Sellers and more Buyers equals higher prices.
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