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Area home-sale contracts up again in August

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Home-sale agreements in the Indianapolis area rose 5.4 percent in August, the F.C. Tucker Co. said Thursday.

Purchase agreements for existing homes in the nine-county area totaled 2,151 during the month, helping sales contracts through the first eight months of the year to a 14.3-percent increase when compared with the same time last year.

In Marion County, August sales agreements increased 4.5 percent, from 885 a year ago to 925 this year. Year-to-date sales in the county are up 13.4 percent.

One of the biggest jumps occurred in Hamilton County, where sales contracts last month jumped 9.9 percent, to 443.

Johnson County posted the largest decrease in the area, a 19.1-percent decline, to 148, in August.

Available homes for sale in the nine-county region dropped 14.4 percent last month, with 13,212 homes on the market, 2,109 fewer than in August 2011.

Overall year-to-date sale prices for the nine-county area increased by 2.4 percent, to $156,105.

Existing home sales in central Indiana have shown year-over-year improvement for 16 straight months.
 

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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

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