June 1, 2015
(Indianapolis, IN - Indiana Association of Realtors®) April stats are in: Pending sales have successfully predicted the future in 2015. They’ve told us in every report that housing would make for good news the following month.
And here we are in May with exactly that: good news. Indiana housing markets are thriving at the start of the second quarter. In fact, data from April shows that statewide, housing outperformed the same month of 2014 in all measures except inventory.
Other statewide April comparisons from the report show:
- The number of pending home sales increased 13.3% percent to 8,217 compared to 7,252 in 2014
- The percent of original list price received increased 1.6 percent to 94.3 percent
- The average days on market through April was 84 days.
- The inventory of homes for sale decreased 4.2 percent to 38,903
The number of homes for sale decreased 4.2 percent from a year ago to just 38,903 available properties in the entire state. Low inventory means buyers should get ready to move fast if they find the right home. Get your financing plan in place now, before you begin a serious search.
The uptick in listings may indicate that potential sellers are getting ready to meet buyer demand. Either way, low interest rates help both sides of the transaction. If rates stay low and the job market, particularly wages, stays strong, this spring and summer buying season will end up being one of the best in years.
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.