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Area home sales slump for 12th straight month

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Home-sale agreements in the nine-county Indianapolis area sank for the 12th straight month in April, plunging 36.4 percent compared to the same month a year ago.

Sale agreements fell to 2,091 last month from 3,286 in April 2010, according to a report released Friday by F.C. Tucker Co. The area experienced three straight months of improving sales activity from February to March last year thanks to generous federal tax incentives, but home sales have been in a tailspin ever since.

“The housing stimulus from last year expired at the end of April and because of the impending expiration, April 2010 saw abnormally high sales,” F.C. Tucker President Jim Litten said in a written statement. “As we move forward into May, we are comparing apples to apples and are already seeing increases in sales over 2010.”

Year-to-date, sales agreements are down 22.7 percent from the first four months of 2010.

In Marion County, April sales agreements fell 36.8 percent compared with the previous year, from 1,523 to 962.

Pending sales also dropped 35.5 percent last month in Hamilton County, from 651 to 420, and plummeted 45.1 percent in Hendricks County, from 315 to 173. Sales agreements decreased 35.6 percent in Johnson County, from 261 to 168.

The average year-to-date sale price in the Indianapolis area through April was $141,776, up 0.6 percent from the same time last year, the report said.

Active listings fell 7 percent, from 16,407 in April 2010 to 15,254 last month.

 

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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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