Has housing hit bottom?

  • Comments
  • Print

F.C. Tucker Co. put out a release today saying the Indianapolis-area housing market stabilized last year.

Somehow, a 9.9-percent decline in sales and 2.1-percent drop in selling price doesnâ??t sound so stable.

Tucker President Jim Litten points out that the region still had its fifth-best year for sales. He also notes that mortgage
rates are falling, contractors are building fewer houses, and job numbers are climbing. All of this will cause sales to rise
1 to 2 percent this year, he predicts.

There certainly are plenty of houses to choose from. Yesterday, Landrigan & Co. Realtors said a yearâ??s worth of inventory
is clogging the market compared with the eight monthsâ?? worth at the end of 2006.

Looking for a house priced at $900,001 or up? It would take three years under current conditions for that inventory to be
bought up, Landrigan said.

Has the market stabilized? Or is that wishful thinking?

Please enable JavaScript to view this content.

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In