Sales of existing homes in Indy area slumped 18% in 2023
Mortgage rates escalated for the first 10 months of last year. No surprise: Existing-home sales in the 16-county area dropped from 35,876 in 2022 to 29,483 in 2023.
Residential Real Estate
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Over-55 crowd fuels growing active-adult housing trend
Active-adult communities are rental properties that can include apartments, cottages or villas targeted toward seniors who do not require medical care and want recreational activities and chances to socialize with people in their peer group.
Average long-term mortgage rates rise again, reaching their highest level in 4 weeks
The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%.
Section of downtown’s Jail II building slated for demolition in revision of $120M redevelopment plan
The structural issues have thrown a curve at the rest of 1820 Ventures’ development plan for housing, retail and entertainment uses, requiring it to move a planned concert venue to another location.
Millennials find way to buy houses: Living with mom and dad
Hunkering down with family offers breathing room to save for a home. The trade-off comes down to temporarily relinquishing a measure of independence to achieve a milestone increasingly out of reach for people their age.
Area home construction permit filings rise for 5th straight month
Hamilton, Johnson and Marion counties saw huge surges in single-family building permit filings in November.
Homebuilders step up construction as 30-year mortgage rate eases
Another incentive for builders: The inventory of previously occupied homes for sale is likely to remain tight because many homeowners have locked in low mortgage rates.
Two Chicks District Co. shop shifting from Bates-Hendricks to Noblesville
“Good Bones” co-star Mina Starsiak Hawk credits a business owner in Noblesville for successfully promoting the suburb.
Sales of existing homes in central Indiana see steep November decline
Closed sales in the area have fallen for 22 straight months on a year-over-year basis, but prices are still on the rise.
Carmel Center Apartments complex sells for nearly $82M
The sale of Carmel Center Apartments from Louisville-based NTS Development Co. to Dayton, Ohio-based The Connor Group closed at a significantly higher price than what NTS paid for the property in 2015.
Slowest housing market in years weighing on consumer spending
Home loan rates have started drifting lower amid growing hopes the Fed will start to expand the money supply again next year, but it could take years for the housing market to return to normality.
Trio of Indianapolis affordable apartment projects receive tax-credit boosts
Bridges Townhomes on the east side, Grand Meridian on the near-north side and Richardson Townhomes at the Central State Hospital campus each received tax credits as part of the 9% Low-Income Housing Tax Credit program for 2024.
Area home construction permit filings rise for 4th month in row
Six of the area’s nine counties saw a year-over-year increase in single-family building permit filings in October.
U.S. home sales slumped to slowest pace in more than 13 years in October
Surging mortgage rates and rising prices are keeping many prospective homebuyers on the sidelines.
Plan for Whitestown junkyard site redevelopment causes concern for residents, councilors
Indianapolis-based Milhaus plans to build a 125-room hotel, a 228-unit apartment development and 75-for-rent townhouses in the initial phase of the redevelopment.
Sales of existing homes in Indy area fall for 21st consecutive month
Meanwhile, the median sales price for a house in the 16-county area in October jumped 3.9%, to $299,000, from the same month a year ago.
Indiana cities dishing out thousands of dollars to get out-of-state workers to relocate
Hundreds of families have already participated in the MakeMyMove program and now call Indiana home.
IBJ Podcast: From humble beginnings, apartment developer built $500 million firm in 10 years
Eric Garrett grew up in Evansville below the poverty line. In the latest edition of the IBJ Podcast, he discusses launching The Garrett Cos. from a barn in his backyard in Greenwood and the strategy that created the 37th largest private company in Indiana in less than 10 years.
Share of U.S. homes bought with cash hits highest level in nearly a decade
Homebuyers who can afford to bypass the highest mortgage rates in two decades are increasingly forgoing financing and paying all cash.
Carmel condo at top of City Center could fetch up to $7.5M
The SkyPalace has five bedrooms, a room with three bunk beds, a rooftop pool, eight parking spots, three private entrances, two hidden passages, a safe room, a sauna, three fire pits, three outdoor grilling areas and a bar.