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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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