Realty Firm Reports Indiana Home Sales At Record Low Despite High Demand

A real estate agency in Anderson, IN, Carpenter Realtors has noticed that despite a high demand in properties, inventory of homes in Indiana remain at a record low. In fact, only Shelby, Hamilton, and Boone county have inventory levels that are higher than what they were in the same time period of 2015. Inventory levels have dropped particularly fast in Hancock County (18.3% drop), followed by Montgomery, Putnam, Johnson and Madison Counties.

"This morning we had 479 active listings in Madison County," says Josh Kindlesparker from Carpenter Realtors. "That is a record low for our housing inventory. It is a sellers' market but people are not listing their homes for sale because they are scared they will not find a place to move to."

The housing market in Central Indiana has continued to improve over the first quarter of this year. Josh Kindlesparker has noted a 6.6% increase in the number of homes that were closed, equating to 6,100 units. He attributes this to the healthy economy, and increased levels of consumer confidence. Additionally, the interest rates continue to be at an all time low.

That being said, inventory is now a significant problem. "Sale prices are up, demand is up, the economy is healthy, and consumer confidence is strong," points out Kindlesparker. "But for those looking at selling their property, there is still a fear that they won't be able to get rid of their property. Those that do put their properties up for sale are benefiting from this, as they can charge higher prices, but this is having a negative knock-on effect on buyers."

In terms of pending sales, Montgomery, Marion, Hendricks, Hancock, and Boone Counties saw an increase of more than 10%. Decreases in pending sales were seen only in Shelby and Putnam Counties. Wayne, Warren, and Center, all within Marion County, saw an increase of 25%. Kindlesparker has requested people follow him on Twitter, @jkindlesparker for further information on the changing housing market, and also to receive important hints and tips on how to take advantage of the current market, and how to buy or sell their properties.