Latest Indianapolis Real Estate Market Conditions

Stats were just released late this past week.  In the Indianapolis area, annual sales of homes have increased from this time last year from 26,000 to 27,000.  Also, overall prices have remained unchanged from this time last year.  On the surface that may not seem great, but considering the mortgage market and foreclosure issues, those numbers are phenomenal.  We are seeing houses selling very quickly now.  Some of that has to do with the time of year, but the mortgage market is starting to settle down and buyers are gaining some confidence.  Buyers are still looking for deals, but those “great” deals are going to start drying up sooner rather than later.  My appraisal business has jumped slightly and we have seen more activity on the realty side of the business.  Those pent up buyers I have been talking about are coming out to smell the roses.  The market still has some rebounding left to do, but Indy is already picking up some steam and is poised for a nice rebound.  Are you ready?

-B
- www.investorschoiceindy.com 

Posted by Clayton Posted in: Investors Choice, Indianapolis Real Estate Market, Investment Property Rehab, Mortgages & Lending, Indiana Real Estate, Real Estate No Comments » March 2008