Wednesday, October 26, 2016 / by Karen McGail
YEAR-TO-DATE INDIANA HOME SALES WELL AHEAD OF LAST YEAR Pent Up Demand Sustains Post-Summer Boost in Contract Signings
(INDIANAPOLIS, IN) — At the end of the third quarter, Indiana existing-home sales are up 7.4 percent (4,559 sales) compared to Q3 2015. This data is found within the Indiana Real Estate Markets Report today released by the state’s REALTORS®.
Other statewide year-to-date comparisons (Q3 2016 vs. Q3 2015) show:
“Between pent up demand and favorable interest rates, we expected the post-summer selling season to start off stronger than last year; and it did,” said Shelbyville’s Nancy Smith, 2016 president of the Indiana Association of REALTORS®. “However, statewide pending sales are up by just 2.4 percent. This is a sign the all-too-familiar supply crunch stuck around in September, and many would-be buyers haven’t been able to get their foot in the door yet.”
The traditional statewide monthly review (September 2016 vs. September 2015) includes inventory information:
The Indiana Real Estate Markets Report obtains data from 11 of the state’s 12 Multiple Listing Services (MLSs), including the Broker Listing Cooperative® (BLC®) in central Indiana. To date, the report represents 98 percent of the housing market statewide and 91 of 92 Indiana counties.