Existing-home sales slide for seventh straight month

Back to TopCommentsE-mailPrintBookmark and Share

Home-sale agreements in central Indiana fell for the seventh straight month in March amid rising prices, real estate agency F.C. Tucker Co. said Wednesday morning.

Pending sales for existing homes in the nine-county area dropped 18.9 percent, from 2,831 in March 2013 to 2,297 in March 2014.

Home prices rose, however, as inventory dwindled. The average area home price in March was $161,191, Tucker said, an increase of 6.1 percent compared with March 2013.

Available homes for sale in the region dropped 7.7 percent, with 9,961 homes on the market—829 fewer than a year ago.

Real estate experts blamed an especially bad winter for slumping sales in recent months, but March’s numbers showed little improvement.

“Now that harsh winter conditions have finally lifted, we expect warmer weather will attract more potential buyers to open houses,” said F.C. Tucker President Jim Litten. “As we move into the second quarter, we believe home sales will increase and prices will remain strong.”

Marion County led the way with 985 sale agreements in March, down from 1,200 the year before. Hamilton County reported 462 deals, down 31 percent from a year ago.

Agreements dropped 21 percent in Hendricks County, to 206, and 25 percent in Johnson County, to 179.

Hancock County sales rose 6.7 percent to 112. Morgan and Shelby were the only other counties to show increases.

The area saw one sale agreement for a home priced above $2 million in March and six others priced above $1 million. More than a third of the homes that traded hands were priced between $100,000 and $200,000


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:
Subscribe to IBJ
  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

  3. I was just watching an AOW race from cleveland in 1997...in addition to the 65K for the race, there were more people in boats watching that race from the lake than were IndyCar fans watching the 2014 IndyCar season finale in the Fontana grandstands. Just sayin...That's some resurgence modern IndyCar has going. Almost profitable, nobody in the grandstands and TV ratings dropping 61% at some tracks in the series. Business model..."CRAZY" as said by a NASCAR track general manager. Yup, this thing is purring like a cat! Sponsors...send them your cash, pronto!!! LOL, not a chance.

  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  5. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............