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Home-sale agreements continue disappointing trend

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Real estate agency F.C. Tucker Co. Inc. said Monday morning that home-sale agreements in central Indiana sank 22.8 percent in February, compared with the same month last year. That marks the sixth straight month of year-over-year declines, dating back to September.

February's slide was only a slight improvement from the 31-percent fall recorded in January.

Buyers in the nine-county area in February signed agreements for 1,784 homes, down 527 from February 2013.

In Marion County, agreements fell 20.2 percent, to 760. Hamilton County experienced one of the steepest drops in the area, 30.3 percent, to 354 agreements.

In Johnson County, agreements decreased 19.1 percent, to 165. Hendricks County experienced a much more severe drop, 31.3 percent, as agreements tumbled to 156.

Boone County saw the biggest decrease, 39.5 percent, but recorded only 52 agreements.

Inventory in the nine-county area continued to fall. The number of homes on the market in February dipped 12 percent, to 9,229, from the year-ago period.

F.C. Tucker President Jim Litten attributed the disappointing numbers to the prolonged wintery weather conditions but hoped for a turnaround as spring approaches.

Higher mortgage rates and tighter inventories also have contributed to the weaker numbers.

On a more positive note, the average year-to-date sale price in the area rose 7.2 percent, to $155,886, compared with February 2013. The average price for Marion County homes was up 5.9 percent, to $117,757. The average Hamilton County price jumped 7.6 percent to $252,643.

One central Indiana home that sold in February was priced above $2 million, and four fetched between $1 million and $2 million. Fifty-three were priced between $500,000 and $1 million.
 

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  • $7 jobs
    $7/hour jobs are not intended for homebuyers. Less than 8% of people working minimum wage jobs are the primary earner, and over 75% of them are teenagers who live at home. That's real data.
  • Home Sales & Snow
    Sorry, people just don't buy homes when it's crappy snowy, cold weather. They also don't list their homes for sale because people know that noone is going to buy it in this weather. This number is so skewed, it's not even funny.
  • The Color is Green
    Home sales are down. Wages are down. $7 per hour jobs do not create home buyers Duh

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    1. Why not take some time to do some research before traveling to that Indiana town or city, and find the ones that are no smoking either inside, or have a patio? People like yourself are just being selfish, and unnecessarily trying to take away all indoor venues that smokers can enjoy themselves at. Last time I checked, it is still a free country, and businesses do respond to market pressure and will ban smoking, if there's enough demand by customers for it(i.e. Linebacker Lounge in South Bend, and Rack and Helen's in New Haven, IN, outside of Fort Wayne). Indiana law already unnecessarily forced restaurants with a bar area to be no smoking, so why not support those restaurants that were forced to ban smoking against their will? Also, I'm always surprised at the number of bars that chose to ban smoking on their own, in non-ban parts of Indiana I'll sometimes travel into. Whiting, IN(just southeast of Chicago) has at least a few bars that went no smoking on their own accord, and despite no selfish government ban forcing those bars to make that move against their will! I'd much rather have a balance of both smoking and non-smoking bars, rather than a complete bar smoking ban that'll only force more bars to close their doors. And besides IMO, there are much worser things to worry about, than cigarette smoke inside a bar. If you feel a bar is too smoky, then simply walk out and take your business to a different bar!

    2. As other states are realizing the harm in jailing offenders of marijuana...Indiana steps backwards into the script of Reefer Madness. Well...you guys voted for your Gov...up to you to vote him out. Signed, Citizen of Florida...the next state to have medical marijuana.

    3. It's empowering for this niche community to know that they have an advocate on their side in case things go awry. http://www.youtube.com/watch?v=Lrst9VXVKfE

    4. Apparently the settlement over Angie's List "bundling" charges hasn't stopped the practice! My membership is up for renewal, and I'm on my third email trying to get a "basic" membership rather than the "bundled" version they're trying to charge me for. Frustrating!!

    5. Well....as a vendor to both of these builders I guess I have the right to comment. Davis closed his doors with integrity.He paid me every penny he owed me. Estridge,STILL owes me thousands and thousands of dollars. The last few years of my life have been spent working 2 jobs, paying off the suppliers I used to work on Estridge jobs and just struggling to survive. Shame on you Paul...and shame on you IBJ! Maybe you should have contacted the hundreds of vendors that Paul stiffed. I'm sure your "rises from the ashes" spin on reporting would have contained true stories of real people who have struggled to find work and pay of their debts (something that Paul didn't even attempt to do).

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