Indiana Housing Market Report for Jan 2012

REALTORS® RELEASE INDIANA REAL ESTATE MARKETS REPORT FOR JANUARY 2012

Report shows more home sales statewide than in the same month of 2011, sales also at slightly higher prices

(INDIANAPOLIS, IN) – Today’s release of the Indiana Real Estate Markets Report by the state’s REALTORS® shows 2012 off to a strong, positive start with activity and home prices better last month than they were the same month the year prior.

Statewide, when comparing January 2012 to January 2011:

• The number of closed home sales increased 13.9 percent to 3,458;

• The number of pending home sales increased 17.7 percent to 4,226;

• The median sale price of homes increased 1.0 percent to $101,000; and

• The average sale price of homes increased 0.2 percent to $122,209.

“Members have reported being genuinely busy since the beginning of the year and the numbers prove it,” said Karl Berron, Chief Executive Officer. “Seems the pendulum is finally swinging back to the middle of the two extremes we’ve experienced the past several years.

“It goes without saying that Hoosiers must be working and confident in their prolonged employment for the statewide housing market to see major growth,” continued Berron. “Two other factors impacting the market are strict mortgage lending standards, and price pressures brought on by foreclosures.”  

“Regardless, it is difficult to ignore that home prices here in Indiana have historically held their ground and interest rates are at the lowest in most memories. Anyone looking to buy or invest should start with the sortable county tables of this report and then talk to a local REALTOR® who can give the most insight into what’s happening in a neighborhood, city or school district,” concluded Berron.

Information provided by the Indiana Association of Realtors