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Home-sale agreements for Indy area jump in January

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Sales of existing homes in the nine-county Indianapolis area are off to a strong start in 2012, with the number of sales agreements increasing 13.4 percent in January compared with the same month a year earlier.

Purchase agreements in the area rose to 1,531 last month, 181 more than in January 2011, according to a report released Monday morning by F.C. Tucker Co. Inc., the city’s largest real estate agency.

In January, Marion County saw a 22.7-percent increase in sales agreements from a year earlier, from 596 to 731. Johnson County saw a larger, 26.9-percent bump, as the number of pending sales rose from 93 to 118. Hancock County tallied a 52.2-percent rise, the largest of the nine counties, with 70 sale agreements after 46 in January 2011.

Hamilton and Hendricks counties, however, both had less activity last month than in January 2011. Pending sales in Hamilton dipped 5.3 percent, to 269 from 284, while sales agreements in Hendricks dropped 10.9 percent, to 123 from 138.

F.C. Tucker expects home sales to continue to improve during the first six months of the year, but then to likely slow a bit during the second half as homebuyers take a “wait-and-see approach” to results of the November presidential election, said Jim Litten, president of F.C. Tucker, in a prepared statement.

Available homes for sale in the nine-county region dropped 15.3 percent in January, with 12,120 houses on the market. Marion County’s inventory fell 18.5 percent.

The average sale price of a home in the area declined 3.3 percent in January, to $134,782.
 

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  • Indy Home Sales
    I find it interesting that an upturn in home sales can result in President Obama being called a socialist by hc, in the post below. First of all, I do not think the POTUS had anything to do with this latest increase in home sales. Banks have been sitting on funds for three years, waiting for the US Congress and Senate to resolve how banks will treat properties in foreclosure, and that decision has been made. In addition, the banks are now held accountable to verify earnings and debts of all borrowers, something that was not done between 2004 and 2008. All in all, I am happy for the people selling their homes, except for the fact that the valuations are lower than during the "pump and dump" era that created the financial collapse of the US Housing Market in 2007.
  • To Be Sure
    Obama is still a socialist, communist and freedom usurper even if that makes absolutely no sense and the economy is on the up tick.

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