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Indy-area home sales off to strong start in 2013

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Home-sale agreements in the nine-county Indianapolis area spiked 17.2 percent in January compared to the same month a year earlier, suggesting last year's housing recovery continues to gain momentum.

Purchase agreements for existing houses totaled 1,892 in January, up from 1,614 in 2012, with increases in every county except for Boone, Indianapolis-based real estate agency F.C. Tucker Co. Inc. said Friday morning.

Morgan County recorded the strongest gain in pended home sales in January, rising 87.8 percent, followed by Shelby County with a 68.8-percent increase. Marion County rose 12.9 percent, with 830 homes sold; Hamilton County increased 13 percent, with 364 homes sold; and Johnson County gained 21.1 percent, with 155 homes sold.

The inventory of houses for sale continued to slide in January, dropping 16 percent, as buyers snapped up available houses. The region had 10,175 houses for sale, a drop of 1,931 compared to January 2012. Every central Indiana county recorded a decline, but Hamilton County led the way with a 19.6-percent decrease.

Average selling prices also rose, by 5.2 percent to $142,985. But not every county saw gains: Hendricks recorded a 12.6-percent drop, followed by Shelby with a 6.6-percent decline, and Hamilton with a 1.5-percent decrease.

Marion County was the top performer on sale-price gains, rising 12.1 percent to an average of $113,772.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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