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Home Sales Rise in Central Indiana

By Joe Hren

Posted September 19, 2012

Home sales are up 14.3 percent overall from 2011 and 5.4 percent from last August.

Donna Kreps, the Executive VP of Residential Real Estate Services, F.C. Tucker, says three counties experienced drops in home sales, but the overall picture still looks positive.

"There are some counties experiencing a decline but the declines aren't anything that really scares us," Kreps says. "You can't just compare one month and determine that you got a big issue and particularly in counties where the economy of scale is smaller where there are fewer homes being sold."

Johnson County saw the biggest decline, decreasing 19.1 percent from August of last year. Boone County followed with a 9.1 percent decline and Shelby County with a 2.4 percent decline.

Shirley Mack is a sales representative of Carpenter Real Estate in Johnson County. She says the county's decline in sales this month is due to the lower job market and also the valuation of appraisals.

"Our appraisals have gone way down, so that's caused a huge decline in mortgages," Mack says.

She also says Johnson County's home sales are still up from where they were last year and that they expect to see a positive trend in the coming months.

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