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Local home sales continue downward slide

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A rebound in existing home sales seems to be as elusive in 2011 as it was last year.

Home-sale agreements in the nine-county Indianapolis area fell 16.7 percent in February compared to the same month of 2010, according to a report released Friday by F.C. Tucker Co.

Sale agreements fell to 1,473 last month from 1,930 in February 2010. The decline marked the 10th consecutive month in which year-over-year sales slumped in the area. The area experienced three straight months of improving sales activity early last year thanks to generous federal tax incentives.

In Marion County, February sales agreements fell 26.1 percent compared with the previous year, from 934 to 690.

Pending sales plummeted 32.1 percent in February in Hamilton County, from 390 to 265, and dipped 13.6 percent in Hendricks County, from 162 to 140. Sales agreements dropped 23.1 percent in Johnson County, from 143 to 110.

The average sale price in the Indianapolis area in February was $139,019, up 1.8 percent from a year earlier, the report said.

Active listings dipped 3.6 percent, from 14,798 in February 2010 to 14,259 last month.
 

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  • Honest reporting
    Thank you, IBJ, for straight forward analysis of the numbers. I am a member of MIBOR and am weary of the spin put on reality by my peers. It does not help and it's difficult to tease out the truth. Worse, it only serves to create seller envy and confusion.

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