Great news! The housing market data in contrast to one year ago shows that January 2015 has kick started the new year with trends better than 2014.
According to the Indiana Real Estate Markets Report, January home sales increased 4.9 percent statewide in comparison to last January. In addition, prices were also better with the media home sale price in January of $115,000. This is a 4.5 percent increase from 2014.
Here are some other year-over-year comparisons from the January report:
· The number of pending home sales increased 17.7 percent to 4,886
· The percent of original list price received increased 1.3 percent to 92.6 percent
· The number of new listings increased 11.9 percent to 7,790
· The inventory of homes for sale decreased 3.7 percent to 36,504
“The increase in December pending home sales suggested that 2015 would be off to a faster start than last year, and it proved true,” said Brownsburg’s Bruce Bright, 2015 President of the Indiana Association of REALTORS®. “The credit for some of that increase is due to milder weather. Credit is also due to high consumer confidence fueled by low interest rates and the growth in the number of private-sector jobs.
“The increase in January pending home sales suggests that February will follow suit with good news, though the weather may push activity into March,” continued Bright. “Whether real estate stays on this positive path depends on the job market, particularly wages, access to credit, and interest rates.”
Are you in the market to buy or sell a home? Contact us to help with your title and closing needs!