While the media continues to blast the real estate market with continuous bad news, Indianapolis is moving forward. Inventory of homes within the Indianapolis market decreased by 14.3 percent in December, according to the latest report. This is great news for the Indianapolis market. While are home inventory of 10 months is above the optimal of four to six months, we are on the decline.
This reduction came as an additional 2,605 homes were sold in the month of December versus last year. This drop is due in part to the reduction by home builders as they slowed their new construction. We also saw sellers pulling their properties from the market waiting for the economy to improve.
In the past, real estate has pulled the economy out of the recession or slowdown. Isn't it time to put more focus on providing stability to the market? Congress continues to debate stimulus packages. However, are they really the right cure for our ills?
This reduction came as an additional 2,605 homes were sold in the month of December versus last year. This drop is due in part to the reduction by home builders as they slowed their new construction. We also saw sellers pulling their properties from the market waiting for the economy to improve.
In the past, real estate has pulled the economy out of the recession or slowdown. Isn't it time to put more focus on providing stability to the market? Congress continues to debate stimulus packages. However, are they really the right cure for our ills?
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