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Growth in area home sales hits March slowdown

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Home-sale agreements in the nine-county Indianapolis area rose just 1.2 percent in March after the local housing market reported much healthier increases for the first two months of the year.

Purchase agreements for existing homes totaled 2,516 in March, up slightly from 2,486 in the same month a year earlier, Indianapolis-based real estate agency F.C. Tucker Co. Inc. said Friday morning.

That followed a 17.2-percent surge in January and an 8.1-percent jump in February. For the quarter, sale agreements were up 13.1 percent.

Pending home sales totaled 1,112 in Marion County last month, up 1.6 percent from March 2012.

In Hamilton County, purchase agreements climbed just 1.3 percent, to 557, but in Johnson County, agreements shot up 23.4 percent, to 216.

Agreements fell 6.5 percent in Hendricks County, to 203.

Sale prices increased faster than agreements.

Average prices in the quarter rose 5.2 percent, to $146,896, in the area compared with the same period last year..

In Hamilton County, the average rose 2.6 percent, to $232,445. In Marion County, the average increased 9 percent, to $114,388.

In March, six pending sales were between $1 million and $2 million; 55 fell in the range of $500,000 to $1 million; and 213 pended at $300,000.
 
 

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  • Mikey
    The first paragraph tells the tell. Even in a nuclear winter home sales and building permits will always rise in the spring.
  • What a Fluke
    just earlier this week was an article saying how the housing market is on the rise, and i commented saying its a complete fluke bc investors are giving the housing market a fictitious rebound. again, there is no housing recovery!!! people need to stop listening to media crap and understand that cash investors are buying up and hoarding the properties. in the end, just like the financial markets, investors will again ruin the housing market. these folks buy/sell/rent homes w/ no interest in the areas, just $$$. they let houses sit empty and rent them out to be neglected. those are facts

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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