Central Indiana’s Spring Housing Market Means Faster Decisions for Buyers
A recent housing data report from the Metropolitan Indianapolis Board of REALTORS® (MIBOR) shows continued increases in pending sales, closed sales, new listings and pricing. All of those categories point to a fast moving market.
According to the report of REALTOR®-compiled data, pending sales increased 13.5 percent in the monthly comparison of April 2015 to the same period last year. In the quarter ending in April, pending sales rose 12.2 percent. Closed sales increased by 12.8 percent in April alone and by 13.1 percent in the three-month review. The key indicator of new listings rose 6.3 percent in April after only a slight increase of 0.5 percent the month before.
Bruce Bright, 2015 President of the Indiana Association of REALTORS® says low inventory is a condition present across the state. “Low inventory means buyers should get ready to move fast if they find the right home. Get your financing plan in place now, before you begin a serious search,” continued Bright. “Though the uptick in listings may indicate that potential sellers are getting ready to meet buyer demand. Either way, low interest rates help both sides of the transaction. If rates stay low and the job market, particularly wages, stays strong, this spring and summer buying season will end up being one of the best in years.”
If you have been wanting to move, now may be your time. Talk to a local REALTOR® about the activity in you desire for your next move. They can advise you on current prices and selling times so you are prepared to make that quick decision.