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Area home sales took big hit in May as credit expires

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Home-sale agreements in the nine-county Indianapolis area fell 32 percent in May compared to the same month of 2009, according to a report released Wednesday by F.C. Tucker Co.

The Indianapolis-based real estate company attributed the drop to the April 30 expiration of the federal tax credit of up to $8,000 for first-time homebuyers and $6,500 for some repeat buyers. Many people intending to buy homes rushed to sign contracts prior to the deadline.

Pending home sales dropped from 2,257 in May 2009 to 1,545 last month. By comparison, home-sale agreements in April surged 33.8 percent in the Indianapolis area as buyers rushed to beat the deadline.

Pending home sales account for sales agreements, not sales that have closed.

Home-sale agreements fell from 990 in May 2009 to 712 last month in Marion County, a 28.1-percent decline. Hamilton and Hendricks counties, which trailed Marion in the number of sales agreements, registered even larger drops, 36.3 percent and 49.8 percent, respectively.

Inventory, or the number of homes on the market, increased from 15,801 to 16,278, a 3-percent increase from the year-ago period.

The average sales price for homes in the area in May was nearly $145,000, up from about $130,000 in May 2009.

Every county registered an increase of at least 1.6 percent in the average sale price. Prices in Marion County rose 17 percent, to $111,629.
 

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

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