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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. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

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