Tuesday, July 30, 2013 / by Carlos J Higareda
(INDIANAPOLIS, IN) – The number of existing, single-family homes sold last month, as well as the average and median sale price of those homes, made for the strongest June since 2007 according to the monthly Indiana Real Estate Markets Report today released by the state’s REALTORS®.
"Indiana’s housing markets are well down the path to recovery, last month contributing to some of the best statewide numbers in six years," said Kevin Kirkpatrick, 2013 President of the Indiana Association of REALTORS®. "Now is definitely the time to enter the marketplace. Buyers have low interest rates on their side and sellers have high demand on their side."
To Kirkpatrick’s point about local housing markets being well down the path to recovery, June 2013 marked these consecutive year-over-year gains in activity and prices (statewide):
• The number of closed home sales has increased year-over-year for 24 consecutive months,
• The median sale price of homes has increased for 19 consecutive months,
• The average sale price has increased for 18 consecutive months,
• Sellers received a greater share of their original list price for the 16
th consecutive month, and
• The number of pending home sales has increased for 21 consecutive months.
"Housing is leading the overall economic recovery right now," said Kirkpatrick. "And while REALTORS® expect that to continue for some time, we also know that real employment and wage growth are the key to the long-term success of housing markets across the state."
IAR represents approximately 15,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.