Central Indiana pended home sales continue to defy national trends INDIANAPOLIS – In central Indiana, pended home sales for the year continue to keep pace with 2005, when central Indiana posted its biggest year ever for residential real estate. Through the end of August, year-to-date pended sales in the nine-county region were down a mere 0.8 percent, counter to national trends. For the month, pended home sales were down nearly 6 percent in August compared with August 2005. Real estate consumers are also finding more homes from which to choose. Area housing inventory is climbing, creating a buyers’ market. There were 19,784 active listings at the end of August, up from 17,038 at the same time last year. “While the real estate news across much of the country indicates a market slowdown, the reality in central Indiana is quite different,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Inventory is up and we are experiencing a buyers’ market, but prices and year-to-date sales remain steady. We’re experiencing natural ebbs and flows of the market, but fortunately we live in Indianapolis, which is a historically stable market. If we can continue to have years like 2005, then we’re in good shape.” Pended home sales in Madison County continue to be the strongest, increasing 25.3 percent in August 2006 versus August 2005. The county is also tops on the year, with a 5.7-percent increase over last year. In August, Hamilton County had the most marked downturn, with a 10.0-percent drop compared with August 2005. All other counties that experienced monthly declines saw only single-digit drops. On the year, Shelby County has experienced the biggest decline, dipping 7.6 percent in 2006. Most other counties’ year-to-date declines are marginal. Active listings, Aug. 2005 vs. Aug. 2006 Pended single-family and condominium home sales
Editor's Note: F.C. Tucker Company, the largest real estate firm in Indiana, is ranked among the largest independent real estate firms in the nation. Its family of businesses includes a full range of real estate services – mortgages, title insurance, relocation services, a full line of insurance products, auctioning, homeowner services vendors and warranty products. Started in Indianapolis 87 years ago, Tucker has 49 statewide offices: 33 affiliate offices throughout Indiana and 16 Indianapolis-area offices. |
