Columbus and Madison, IN, Real Estate Blog

from mibor.com's blog: My 4 Walls

Cold Weather No Match for Eager Buyers and Sellers

While March to September have long been thought “the” housing season in central Indiana, the truth is you just never know. That proved to be the case in January when sales shot up 12.8 percent over January a year ago and pending sales rose even further by 17.0 percent. A pending sale is one in which the sales contract has been signed by all parties, but the transaction hasn’t completely closed. Once a home is pending, it typically closes in 30 to 60 days. Only about three to four percent of those deals fall through in our market.

Even when you recall that 2014 laid claim to the worst winter any of us can remember, these are impressive gains. It shows that buyers are out there, ready to act. REALTORS® say clients that typically wait until spring are eager to get started now because the mortgage interest rates are so favorable. In fact, REALTORS® say it’s the number one reason business has picked up. It’s hard to beat a sub four percent loan rate. A mild January this year did not hurt.

Another interesting finding, new listings jumped 23.9 percent in January and this is after they increased by 13.1 percent in December. Getting more homes available for sale should make for a great spring selling season. The number of available homes has been lacking for more than a year. With more to choose from, your home search will be more productive…and fun.

Why wait until spring? Call us today!

From Mibor.com's blog, My 4 Walls:

It seems as though all the numbers are moving in the right direction. Builder Confidence is up once again, the 13th consecutive quarter of year over year improvements. We just reported at the Builders Association of Greater Indianapolis (BAGI) that January Permit numbers are up six percent over last year at this point, and according to the National Association of Home Builders, all segments of the market—single-family homes, condominiums and multifamily rental—registered increases compared to the same quarter a year ago. Additionally, the single-family index increased six points to a level of 54, which is the highest fourth-quarter reading since the inception of the index in 2008.

We can confidently say the economy is recovering and housing is recovering right along with it. In fact, an overall improving economy in central Indiana is a direct result of the stronger housing market. Residential construction is an often overlooked component of a region's overall economic growth and health. Historical trends prove that the strength of an area's overall economy is predicated on the strength and diversity of its housing market. 

So, now that we see all the signs of a strong economy here in Indiana and a growing housing market, what does that mean? In our opinion, it means it’s a perfect time meet that pent-up demand of the recession and start thinking about new construction. It’s not only a ripe economic state but it’s also a perfect time of year. Spring is on the horizon and builders are ready for the peak construction seasons ahead. 

If you’re ready to being the new construction research, please contact our knowledgable and experienced agents!