Central Indiana home sales show slight monthly increase
Area home-sale agreements are up 8.9 percent through the first four months of the year compared with the same time period last year.
Area home-sale agreements are up 8.9 percent through the first four months of the year compared with the same time period last year.
Transactions involving existing homes fell in March by 1.8 percent, after rising the first two months of the year.
Central Indiana home transactions were on the rise for the third straight month in February, a positive sign for the residential real estate industry after a disappointing year in 2014.
City officials on Monday approved rezoning 150 acres along Southeastern Parkway for a 277-unit development with homes from $275,000 to $450,000.
February’s record-cold temperatures apparently put a chill on new-home buying in central Indiana, the Builders Association of Indianapolis reported Thursday.
Buyers signed deals for 1,702 homes in January, a 4.7-percent gain over the same month last year. Average home prices and the inventory of listed homes each inched up about 1 percent.
The National Association of Realtors said Friday that sales of existing homes rose 2.4 percent last month. But over the course of the entire year, sales fell 3.1 percent.
For all of 2014, U.S. builders started construction on 1.01 million new homes and apartments. It was the first time construction has topped 1 million since the height of the housing boom in 2005.
Existing home sales in the Indianapolis area fell 2.6 percent in 2014, breaking a string of three straight annual increases, real estate agency F.C. Tucker Co. said Thursday morning.
The combination of higher home prices and relatively stagnant incomes has reduced affordability and restrained buying activity.
The number of home-sale agreements for the nine-county area in October rose a grand total of two from 2,170 in the same month last year. Sale prices, however, made strong strides.
Average 30-year mortgage rates have tumbled below 4 percent, but it remains difficult to qualify for financing.
U.S. home prices rose more than economists estimated in August as employment growth fueled demand for housing.
If prior sales of expensive one-of-a-kind homes are any guide, the Carmel estate owned by Bren Simon will be difficult to sell for anything near its asking price of $25 million.
Central Indiana ended a one-year slump in home sales in September, recording its first monthly increase in home-sale agreements since August 2013.
Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.
Home-sale agreements in August declined 9.6 percent, marking the 12th consecutive month of declining deals for houses in the nine-county Indianapolis area.
Wells Fargo is unveiling a $4.5 million program in Indianapolis that would provide a huge chunk of up-front money for eligible homebuyers.
The 106-acre property includes a 50,000-square-foot mansion and private, 18-hole golf course. Mel Simon and his wife, Bren, had been working on disposing of the home even before the billionaire’s death in September 2009.