Central Indiana home sales show slight improvement

From F.C. Tucker Company, July's Market Watch:

INDIANAPOLIS – Residential real estate in central Indiana is improving as the summer home-buying season comes to a close. Pended home sales in July were down by just 1 percent compared to July 2006. In July, 2,597 pended home sales were reported, a slight decrease from 2,633 during the same time last year, according to data compiled by F.C. Tucker Company.

More than half of the counties in the nine-county region posted higher pended sales than July 2006, with Shelby County showing the highest increase of 48.6 percent. Hancock County pended home sales rose 25.3 percent compared to July 2006. Home sales in Hendricks County dropped 29.9 percent from last year.

Although year-to-date home sales are down 5 percent, July’s statistics show that the local housing market is inching toward improvement. Further reinforcing the local market’s gradual upswing is this week’s report in Forbe’s magazine that lists Indianapolis as the most affordable housing market in the U.S.

“Despite the national news about the sub-prime market meltdown, Indianapolis has not been impacted by that,” H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Real estate is regional and the recent Forbe’s report proves that most of those negative statistics are not affecting our market, thanks to our affordability and positive Indiana economy.”


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