The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up more than 20 percent in October; up more than 16 percent year to date 18 straight months of month-to-month improvement for existing home sales

Central Indiana home sales up more than 20 percent in October;
up more than 16 percent year to date

18 straight months of month-to-month improvement for existing home sales

INDIANAPOLIS – More than 2,000 homes pended in October in Central Indiana, with eight counties out of nine reporting increased home sales, according to statistics compiled by F.C. Tucker Company. Overall, October pended home sales rose 20.6 percent compared to October 2011, an increase of 343 homes in the nine counties that F.C. Tucker tracks.
Year-to-date, 21,997 homes pended, an increase of 3,057 homes compared to the same time period in 2011. For 18 straight months, existing home sales have shown month-to-month improvement.
The National Association of Realtors reports similar trends across the country, as sales are up 10 percent and inventory is down 20 percent in the third quarter compared to the same time period in 2011. The drop in inventory combined with the increase in sales has led to a rise in home prices in most major metropolitan areas in the U.S., according to the association.
“Low interest rates and competitive prices continue to make the market attractive to home buyers,” said Jim Litten president of F.C. Tucker Company. The fourth quarter has started on a positive note, and we expect the positive trend to continue through the year.”
In October, Morgan County saw the largest increase in pended home sales which spiked 70 percent, raising the number of pended home sales to 85 from 50 in October 2011. Johnson and Hancock counties also experienced increases of 33.9 percent and 32.8 percent, respectively, over October 2011. Only Boone County saw a decline, down 17.3 percent compared to October...