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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. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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