Client News
Two Central Indiana counties report increased home sales in May
Available inventory in the nine-county region continues to drop
INDIANAPOLIS – More than 2,200 Central Indiana homes pended in May, with two counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company. Boone County posted a 32.4 percent increase, and Madison County sales rose 2.5 percent.
May pended home sales in the nine-county area were down 11 percent with 2,227 homes pending compared to 2,501 in May 2008. Year to date, overall pended home sales are down 12.8 percent compared to the same timeframe in 2008.
Available homes for sale in the nine-county region dropped 18 percent in May 2009 with 15,801 homes on the market, 3,458 fewer homes than in May 2008. Four counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 23.7 percent, followed by Madison County with 19.2 percent and Hancock and Hendricks counties with 18.3 and 18.2 percent, respectively.
“Home inventory levels have consistently dropped over the past 12 months, and we’re nearing a balanced, six-month inventory level,” said John Snavley, Senior Vice President of F.C. Tucker Company. “At current pricing levels, with new homebuyer incentives and low mortgages rates, this is an excellent time to buy a home in Central Indiana.”
Even national pundits are stressing that in today’s real estate market, now is the time to buy. Recently, CNBC Mad Money host Jim Cramer commented on the nation’s state of the economy and real estate market, saying “I think that real estate is a once-in-a-lifetime opportunity… mortgage rates are the lowest in my life, affordability is the best in my life. Clearly, real estate is much better than stocks right now.”Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on June 5, 2009. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.
With more than $2 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with 46 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees.
For more information or specific county statistics, please contact Linda Jackson or Megan Bulla
(317) 621.6400
Linda.Jackson@Borshoff.biz
Megan.Bulla@Borshoff.biz
Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on June 5, 2009. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.
With more than $2 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with 46 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees.