It doesn't take any special powers to see that the Fishers Indiana Housing Market Report for March 2012 is nothing to get excited about. Despite March being the beginning of the traditional prime selling season, numbers were down in most categories for the Fishers housing market when comparing March 2012 to March 2011. Median Sales Price, the point at which half the homes sold for more and half sold for less, dropped significantly to $183,000.
As for the Hamilton County housing market report for March 2012, it was a bit of a mixed bag. Although Closed Sales were strong (+13.9%) and Months Supply of Inventory decreased substantially (-17.4%) to 7.1 months, other categories didn't fare so well. That's in contrast to the March 2012 housing market report for all of Central Indiana, which was BOOMING! Pending sales were up 14.5% in the first quarter of 2012 and up 8.6 percent in March alone. Closed Sales were also strong, up 18.3% for the quarter and 10.1% percent in March. Months Supply of Inventory was down 15.8 percent for the quarter to 7.8 months.
So what does the future hold for the Fishers housing market? Both home prices and home sales are expected to increase across the country this year. A decreasing inventory of bank owned properties and a lack of new construction means rental prices will rise making buying a more affordable option, according to Lawrence Yun, chief economist for the National Association of REALTORS. Check back later this month for the latest Fishers housing market report. Will hope spring eternal?
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