Indiana Housing Demand Knocks Down Inventory, Consumers Persevere

June 1, 2018

Buyers Must Bring Best Offers to Get to the Closing Table.

(INDIANAPOLIS, IN) —Seasonal housing demand is increasing as usual in a time when many Indiana markets were already saturated with potential buyers, resulting in consistent price growth, according to the Indiana Real Estate Markets Report today released by the state’s REALTORS®. Statewide year-over-year comparisons (April 2018 vs. April 2017) show:

  • The number of pending home sales increased 6.7% to 8,850
  • Average sales price of homes increased 8.2% to $182,851
  • The number of new listings decreased 1.3% to 10,520

“Focused buyers and their REALTORS® continue to make this year's market one of the most intense in recent history,” noted 2018 IAR President John De Souza of South Bend. “Now that spring has sprung, numerous showing and multiple offer situations are keeping our members busy.” The National Association of REALTORS® Confidence Index (RCI) survey also gathers monthly information from members about local real estate transactions and homeownership. Further data extrapolation is available in this index on pricing, consumer trends, and market activity.

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