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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. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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