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MIBOR REPORT
Interest Rates Likely Remain Low in 2015
Some are pontificating about a potential change in interest rates. With virtually no inflation, rates will likely remain low for most of 2015 but could flirt with 5.0 percent toward the end of next year. Prices should continue their ascent but at a tempered pace, which helps preserve affordability for first-time buyers.
New Listings in central Indiana decreased 3.6 percent to 2,323 in November, but were up 3.9 percent during the three months ending in November.
Pending Sales were up 8.3 percent to 1,876 in November and an op- timistic 11.1 percent for the three months ending in November. The Total Active Listings Available at Month End fell 2.3 percent in No- vember to 12,289 units, which is not a shock given the healthy level of sales activity.
Prices stuck with the upward trend across all tracked time periods. The Median Sales Price increased 4.2 percent to $137,500 for No- vember, and showed similar increases for the last three months, six months and 12 months of activity, sitting steady at 4.5, 4.0 and 4.4 percent, respectively, over those time periods.
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