The housing market affects each and every one of us, whether directly or indirectly, since it is such a huge part of the economy. If the economy is like a patient in recovery, then the housing market is like a vital sign, and a very vital one at that. That’s why we like to keep a close eye on it whenever we can. The latest data showed a slight improvement in the greater Indianapolis housing market during the most 3-month period of 2013.
Collectively, the greater Indianapolis housing market is comprised of Marion County and the 8 counties that surround it. The data shows a-9.4 percent improvement in the total number of homes sold from August through October, 2013 compared to this same quarter 1 year ago. On average, a total of 2,505 sales were finalized compared to an average of just 2,290 per month during this same quarter 12 months ago. Looking only at the month of October, a total of 2,282 homes were sold compared to 2,238 during this same month 1 year ago.
Pending sales is another area that showed improvement, albeit on a quarterly basis. From August through October, 2013, an average of 2,198 transactions had a ‘pending’ status. This represents a 3-percent improvement over this same quarter 1 year ago, when the monthly average was 2,133 pending transactions per month.
Read the full report here.