Page 32 - Sites_December

MIBOR REPORT
Indiana Housing Market - Typical Transition
The Central Indiana housing market is experiencing the typical transition period from heavy spring and summer listing and buying activity into a slower late fall pace. Over the last 12 months, Closed Sales are up 8.2 percent with Pending Sales up 10.6 percent. The 12-month review of pricesput Median Sales Price up a solid 5.0 percent and Average Sales Price up 4.2 percent. October brings our transition month as Closed Sales were down 1.2 percent, the rst decrease of 2015. Pending Sales were up 6.2 percent in October. New Listings in central Indiana increased 2.3 percent in October, a metric that has gone up and down all year.
Price increases slowed a bit. The Median Sales Price increased 1.5 percent to $142,000 in October. Average Sales Price dropped 0.2 percent in October when compared to October 2014. Average Sales Price for the region stands at $176,81.
Positive New Listing and Pending Sales for October offer nuggets of optimism as we close near the end of 2015. As always, interest rates are an area to pay attention to as rate hikes are widely expected before the year ends. The Federal Reserve Bank has skipped two opportunities to raise rates this fall, but the nal meeting in December will likely include a minor rate hike which may impact buyers to speed up their purchase decisions.
32