Sales of houses in the Indianapolis area dropped nearly 18 percent in August compared with the same month a year earlier, according to the Metropolitan Indianapolis Board of Realtors.
The 13-county region generated 2,350 sales compared to 2,852 in August of 2007 year and 3,204 in the same month in 2006.
The decline wasn't just a one-month quirk. Sales fell by the same margin in the quarter ended in August and the same period a year earlier.
The median sale price slid nearly 9 percent, to $144,439, in August from August 2007.