April Central Indiana Pended Home Sales Slip
Area sales still up on the year, posting a 1.8-percent increase

Area pended home sales were down in April, dropping 10.2 percent compared with April 2005. With 284 fewer homes sold last month than the same time period last year, this is the first month central Indiana has seen the residential housing market decline. However, the historically stable market is continuing its relatively steady pace, with an overall increase in home sales on the year. Year-to-date home sales increased nearly 2 percent, with 9,736 homes sold in 2006 – a 174-home increase from last year’s 9,562.

“Easter and related spring vacations came in April this year as opposed to in March last year, and that could very well have played a factor in the decline we saw,” said H. James Litten, president of F.C. Tucker’s Residential Real Estate Services Division. “Historically, May through August are the most active times for real estate, especially here in central Indiana. In fact, just looking at the past three years, we see that those four months generally account for about 40 percent of yearly home sales. This year likely will be no different.”

Hancock andJohnson Counties experienced the most significant decreases, dipping 23.8 and 24.2 percent, respectively. Boone, Madison and Shelby counties also posted marked losses, with Hamilton and Hendricks and Marion Counties faring the best with only minimal decreases.

Year to date, Morgan County continues to do well, up 11.1 percent. Hendricks County is up too, posting a 5.4-percent increase on the year. Marion County has also increased in 2006, up 4.5 percent.

Counties
Apr '05
Apr '06
%Change
'05 YTD
'06 YTD
%Change
Boone
86
72
-16.3%
277
265
-4.3%
Hamilton
494
472
-4.5%
1,793
1,779
-0.8%
Hancock
105
80
-23.8%
351
328
-6.6%
Hendricks
222
217
-2.3%
764
805
5.4%
Johnson
231
175
-24.2%
770
741
-3.8%
Madison
158
128
-19.0%
537
512
-4.7%
Marion
1,337
1,224
-8.5%
4,583
4,788
4.5%
Morgan
84
74
-11.9%
306
340
11.1%
Shelby
58
49
-15.5%
181
178
-1.7%
Total
2,775
2,491
-10.2%
9,562
9,736
1.8%

Nationally, pended home sales in March 2006 declined slightly, down 1.2 percent from the previous month and are down 6.0 percent from March 2005, according to the National Association of Realtors’ Pending Home Sales Index, released May 2. The Midwest fell 7.4 percent in March 2006 and was 9.3 percent below a year ago.


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Editor's Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on May 8, 2006.