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Area home-sale contracts rise 20 percent

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Home-sale agreements in the nine-county Indianapolis area rose 20.6 percent in October, the 18th straight month of year-over-year improvement in sales contracts.

Purchase agreements for existing homes totaled 2,006 in October 2012 compared with 1,663 in October 2011, Indianapolis-based real estate agency F.C. Tucker Co. said Wednesday in its monthly report.

Every county in the area except for Boone reported an increase in pending sales of existing homes. Marion County reported a 21-percent increase in sales, from 732 in October 2011 to 884 last month. Hamilton County contracts rose 19.1 percent, to 393.

Johnson, Madison and Morgan counties experienced big increases in sales.

Year-to-date, home sales in the area have risen 16.1 percent compared to 2011.

Average sale prices year-to-date have risen 2.3 percent, to $155,913, in the Indianapolis area, but have fallen in Hamilton and Hancock Counties.

Prices are down 7.1 percent in Hamilton, to $240,631, and down 0.9 percent in Hancock, to $138,643.

The average price in Marion County is $119,705, up 4.1 percent.

Prices for the most part are increasing due to a falling inventory of available homes. There were 12,000 existing homes available on the market in October, down nearly 2,200 homes from October 2011.
 

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  • Silly Partisan
    Fa la la-la-la. Smurf along with me.
  • Obama Haters Unite
    One of the many pleasures I will receive from the President's reelection is to watch republican mouths gape as the housing market, and every other segment of the economy, rebound in the next four years. Granted, this won't be the hyper-, uber- super-charged market of the 90's or mid 2000's, but will be the engine of sustained growth that will gradually reduce unemployment, and reduce the deficit. Romney was right, this would have happened without him having to do anything. It would, however, have been a crime for him to get credit, without having done any of the heavy lifting.

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