Indiana Housing Stats – First Qtr 2016

First Quarter 2016:

Low Inventory Continues to Shape Indiana Housing Market
Indiana Realtors report that the state’s housing market is off to a relatively strong start in 2016, with 77 percent of survey respondents reporting that the level of buyer traffic in January was either average or stronger than average—a slight increase over this same period in 2015.

Similarly, positive reports on pending sales in January are also improved a bit year-over-year. A majority of Realtors expect home sales to stay strong over the next three to six months.

While buyer traffic is healthy in most areas, the inventory of homes for sale continues to lag. Referring to the month of January, 52 percent of Realtors stated that the level of seller traffic was weaker than average.

This marks the first time in the eight editions of this survey that more than half of respondents indicated that inventory was lower than normal.

Given these tight conditions, it is little surprise that 60 percent of Realtors see a seller’s market in effect for the next few months and that 56 percent expect to see prices continue to climb through the spring.

Note: This survey is conducted by the Indiana Association of REALTORS® and the Indiana Business Research Center. All survey respondents are members of the Indiana Association of REALTORS®

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