Market News

Central Indiana Home Sales Beat National

You’ve got to be careful if you get your news from a national media outlet.  While January national home sales were the weakest in years, Central Indiana continued on a very strong path.  Pundits blamed rising mortgage rates and low inventory as the reasons for the weaker national sales.  It’s true that rates have been creeping up slightly— BUT they are still amazing by any historical perspective.  Think mid 4’s right at the moment.  I mean, since when was 4% a bad mortgage rate?  Come on now!

 

The experts say “Real estate is local”- and they are correct.  Here in Central Indiana, Closed Sales were up 5% over January of a year ago.  And up 4% for the past 12 months.  Obviously more people are buying homes in our neck of the woods.

Want help getting the lowest rate and buying successfully in this tight market?  Easy— call me!  “I work harder to make good things happen!”  -Bob Morris

2017 The Year in Review

* Central Indiana sales were up 4%
* But new listings were down 1%
* Put those two figures together and you get 20% less selection per buyer
* And prices up 6.5%

By all indications the New Year is off to a rousing start. Houses in good shape and location, and priced to sell are drawing multiple offers. Other properties are taking their time to sell— as buyers are anxious but not desperate. It ought to be a Wild, Wild West spring season!

Want help making the most of it— call us. We work harder to make good things happen!

Homes Are Shrinking In The US

Bloomberg reports that for the first time in over three decades the size o1000x-1f the average new built home is shrinking. After climbing by half for three decades the square footage of the average house topped out at 2520 square feet in 2015. Through June of this year, the national average has been but 2420. Here in central Indiana the numbers are oh so similar. 2530 two years ago and 2426 in 2017.

If you’d like to take advantage of those numbers just let me know!

To catch other helpful blog posts, simply go to www.indyschoicerealestate.com. And please keep in mind… “I work harder to make good things happen!” -BobK

P.S. If you hear of friends or co-workers talking about buying or selling a house, please put them in touch with me. Thanks!