INDIANA, (WOWO): The latest real estate report for Indiana shows an 8.5 percent increase in sales, statewide, but it wasn't enough of a boost for the total number of home sales in 2014 to beat last year.
Home sales for 2014 slipped 1.6 percent compared to 2013 according to the Indiana Real Estate Markets Report. However, home sale prices were better in both the monthly and annual comparisons on the state level.
Locally, sales in Allen County were up 8 percent. The median price was also up nearly 13-and-a-half percent to more than 113-thousand dollars. “The year as a whole shaped up to be much better than most believed it would be at the start of 2014,” said Brownsburg's Bruce Bright, 2015 President of the Indiana Association of REALTORS®. “Interest rates remained low, and the number of private sector jobs grew. This coupled nicely on the government side with mortgage debt forgiveness and interest deduction preservation.
“The increase in December pending home sales suggests that 2015 will be off to a faster start than 2014,” continued Bright. “Whether real estate stays on this positive path depends on the job market, and particularly on wages, access to credit, and consumer confidence.””
Other monthly comparisons (December 2014 vs. December 2013) from the report show –
The number of pending home sales increased 18.3 percent to 4,390
The percent of original list price received increased 2.6 percent to 93.4 percent
The number of new listings increased 5.9 percent to 5,480
Other annual comparisons (2014 vs. 2013) from the report show –
The number of pending home sales increased 1.6 percent to 73,086
The percent of original list price received increased 1.7 percent to 93.5 percent
The number of new listings decreased 2.9 percent to 114,201