June, 2012 Marks Fourth Consecutive Month of Increased Indianapolis Home Sales

A few glitches aside, the Indianapolis real estate market showed improvements in several key areas, making for a solid month of performance in June of 2012. But first, about those “glitches”…

Total pending sales, always a good indicator of things to come, fell 9.8 percent, from 1,039 in May to just 937 in June. Why this is not altogether a bad thing is because, compared to June of 2011, it is actually a 2.2-percent increase in pending sales. Also, from April through June of this year there were, on average 1,016 pending sales per month, or 6.8 percent more, relative to this same period 1 year ago.

Following a similar theme to our previous stat is that of total listings. While it is true that the market is saturated with listings, and therefore a 1.3-percent increase in total listings represents a bad thing, it is also true that, compared to last June’s total of 7,256 listings, the most recent total of 6,152 in June, 2012 represents a sizable decrease of 15.2 percent. Also, from April through June of this year there were 14.9 percent fewer Indianapolis homes for sale compared to this same period last year, or 6,064 versus 7,124 respectively.

One stat that was good no matter how you looked at it concerned sales. A total of 1,089 closings took place in June, or 1.4 percent more, compared to the previous month’s total of 1,074. In fact, June marked the 4th straight month that sales have increased ever since hitting a 15-month low of just 633 in January. But even better is the fact that our most recent figure represents a 7.7-percent increase in total sales when compared to last June’s total of 1,011. Finally, from April through June of this year an average of 1,040 closings took place each month, 13.3 percent more, compared to this same quarter in 2011.

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