Area home sales slide again

Back to TopCommentsE-mailPrintBookmark and Share

Home-sale agreements in the nine-county Indianapolis area plummeted more than 27 percent in July compared to the same month of 2009, according to a report released Wednesday by residential real estate firm F.C. Tucker Co.

The decline marked the third straight month that home sales have slumped in central Indiana following three straight months of improving sales activity spurred by generous federal tax credits.

Pending home sales dropped from 2,351 in July 2009 to 1,707 last month, a decline of 27.4 percent. Pending sales were down 30 percent in June and 32 percent in May.

Pending home sales account for sales agreements, not sales that have closed. Year-to-date, sales agreements are off 2 percent from the same seven months of 2009.

In Marion County, July sales agreements fell 32.5 percent compared to the previous year, from 1,100 to 743. Pending sales dropped 25.6 percent in Hamilton County, from 496 to 369, and 32.3 percent in Hendricks County, from 198 to 134.

Johnson County saw the area’s smallest decline, as pending sales dropped 11.9 percent, from 177 to 156.

On a positive note, the average price of homes sold in the area in July was up 9.8 percent, from $146,155 in July 2009 to $160,496 in July 2010. Home prices were up 18.2 percent in Hamilton County, to $277,966, and 6.7 percent in Marion County, to $119,786.

Home inventory was up 5.8 percent in July from a year ago, with 17,276 homes listed in the nine-county area.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
thisissue1-092914.jpg 092914

Subscribe to IBJ