Home sales pick up for second straight month

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Home-sale agreements in the nine-county Indianapolis area rose 16 percent in June compared with the same month a year ago, marking the second straight month of year-over-year increases after 14 months of declining sales.

Sales agreements climbed to 1,967 last month, up from 1,694 in June 2010, according to a report released Tuesday by F.C. Tucker Co.

The back-to-back increases were the first year-over-year rises in home-sale agreements since April 2010, when potential homebuyers rushed to sign contracts prior to the expiration of a generous federal tax credit. The special credit provided up to $8,000 for first-time homebuyers and $6,500 for some repeat buyers.

Sales fell dramatically last year after the tax credit ended, depressing residential real estate transactions for several months afterward.

While much higher than a year ago, June’s sales were 14 percent below what they were in the same month of 2009.

Year-to-date sales agreements are down 9 percent compared to the same period of 2010.

Marion County saw a 13-percent rise in June sales agreements from a year ago, from 781 to 886. Hamilton County deals rose 23 percent, from 328 to 402. Madison County saw a 33-percent increase, from 83 to 110.

Available homes for sale in the nine-county region dropped 7.5 percent in June, with 15,722 homes on the market. Marion County’s inventory dropped 11.5 percent.

Year-to-date sales prices are up 0.5 percent in 2010, from $147,257 to $148,030.

So far this year, sales agreements have been reached on 62 homes in the area priced at $500,000 or more.

 

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In