Home sales down, but improving in some areas-WEB ONLY

March home sales in central Indiana were down 2.7 percent compared with the same month last year, but the regional housing market could be showing signs of a rebound, according to F.C. Tucker Co. statistics released today.

Overall, pending home sales for the region fell from 2,362 in March 2008 to 2,298 last month.

Marion County’s pending home sales dipped 4.3 percent compared with last March, from 1,193 to 1,142, but four of the eight surrounding counties posted increases.

Madison County led with a 33.6-percent jump in sales, from 107 to 143. Next best was Boone County, which experienced a 30.5-percent jump, from 59 to 77.

Johnson and Hendricks counties logged 14.6-percent and 9.9-percent improvements, respectively.

“We hope the encouraging March numbers in select areas of central Indiana are an indication the local housing market is gaining momentum, and will continue to improve throughout the year,” H. James Litten, president of Tucker’s Residential Real Estate Services Division, said in a written statement.

Still, through the first quarter, home sales in the region are off 14.1 percent compared with a year ago. Also, the average sale price fell from $140,878 to $123,461, a decline of 12.4 percent.

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