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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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  1. RKW's comments read like a modern "Chicken Little". As a Raintree resident for many years, "Yes, I'm ready for this." Matter of fact, I welcome The Farm because it's a development that compliments our town, brings new and desirable shopping & dining closer (specialty grocer, upscale shops, micro brew pub, etc), offers upscale condos for empty nesters who want to stay in Zionsville, is being planned and constructed by local, well-reputed firms and, of course, provides desirable non property tax benefits. We all knew the Pittman's were going to develop their property sooner than later. That one of the Pittman's will continue to live on the property helps assure The Farm will be everything promised. This also sets a standard for other developers as to the quality of future developments - which should keep an ugly Walmart at bay for decades. As we've no meglomaniac mayor, I seriously doubt Zionsville would ever aspire to over-priced statues or subsidized retail rents. And we already have a very nice public theater, the Zionsville Performing Arts Center, that meets our cultural needs quite nicely.

  2. Do we add (or subtract) these from the bounty we recieve from RTWFL, Daylight Savings Time, corporate tax giveaways, and the crack job IEDC is doing?? Or is Mike going to blame these on Mitch?

  3. Who makes Tater Tots? They would be a good sponsor, because $3 Million for the alleged "Greatest Spectacle In Racing" is taters. Tiny, tiny taters. But at least they are making up something of the losses accumulated over the years in this dying sport. Buttock in seat is certainly not doing it, nor eyeball on TV, as evidenced by the lack of both.

  4. We loved lakehouse and think the Arbor Village would be a great location. It is less than 2 miles from over 1000 rooftops in the 225,000 to over 1 million range. Many people could use the great fishers trail system to bike or walk there. Just an idea Scotty -- but maybe something closer to 3 Wiseman would good. The only microbrew in area is Ram (boring)

  5. True, it's an ESPN production, but ESPN is just another name for ABC Sports, or what used to be ABC Sports since ABC Sports no longer exists as a name. ESPN=ABC Sports= ESPN. ESPN is, according to Forbes "the world's most valuable media property" worth $40 billion. Despite that, they fired 400 people this week.

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