Confident Consumers Still View Housing as Wise Investment
(INDIANAPOLIS, IN) – Indiana REALTORS® today released statewide housing data that confirms strong buyer demand is sustaining competitive markets with reduced inventories.
The latest Indiana Real Estate Markets Report shows July 2015 outperformed last July in all but one category:
- The number of pending home sales increased 5.9% to 7,459
- The percent of original list price received increased 0.3% to 94.9%
- The average days on market through July was 77 days
- The inventory of homes for sale decreased 7.6 percent to 40,731
“Low mortgage rates are empowering consumers across the state to invest in housing,” said Bruce Bright, 2015 President of the Indiana Association of REALTORS®. “It’s a great time to be a seller. Despite fewer listings and rising prices, buyer demand is not letting up. Low inventory means buyers have to move fast when they find the right home.”
“A fundamentally sound real estate market is essential to a healthy economy,” continued Bright. “If interest rates stay low and the job market—particularly wages—remain strong, even better market conditions are yet to come.”
IAR represents approximately 15,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange, or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.