Housing data released by MIBOR comparing Aug 22 to Sept 22 are in, and to no one’s surprise, the local real estate market is slowing in Indiana’s 16 central counties.
|The facts are:
- Closed sales are down from 3,521 –> 3,239
- No change in Price – hovering at 285K
- New listings are down from 3,791 –> 3,412
- Days on the Market is up from 22 –> 28
- Active Inventory is up from 4,004 –> 4,356
Do you know what I am telling my clients – breathe. If now is not the right time, take this time to prep for your next move.
- If you are selling, schedule a consult, and I will give you my expert opinion on what improvements should be done or NOT DONE for the highest return
- If you are buying, let’s get the financing in order, OR let me do some research in some prospective areas
We have lots of resources on our website so check them out! As always, I am happy to jump on a call to discuss your needs.
Almost 25% of Millennials (ages 26-41) claim they plan on renting forever, according to this Apartment List article. That’s nearly double the amount since they started their ongoing survey of 31,000 Millennials in 2018.
In the grand scheme of things, 1 in 4 Millennials swearing off homeownership forever isn’t earth-shattering news. To put things in perspective, the highest rate of homeownership ever was 80% in North Dakota back in 1900. But generally speaking, the homeownership rate has hovered in the 65% range nationally for almost 5 decades. Some people will always be renters; homeownership isn’t for everyone.
There are four main reasons they give for not buying:
• They feel it’s financially risky (19%)
• Don’t want the costs of maintaining a home (30%)
• They like the flexibility renting allows (28%)
• Can’t afford to buy a house (77%)
Call me to discuss your specifics. It may be the right time for you now!
Read the full article
Prices are up 20% over a year ago and appear to be accelerating, with the average home now selling for an even 300k. (Call me if you want to sell this summer, it’s still looking good!)
Closings were up 9% from May but down 6% from a year ago. (Not sure how to figure that one out!)
The BIG news may have been New Listings increased 16% from the previous month and 11% from a year ago. (That’s WELCOME NEWS for HOME BUYERS.)
Active inventory is now up a whopping 64% over last year this time!
Download the Full Report (by County) Here
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