The Truth about Indianapolis Real Estate
The first question for my wife, Kate, and I at a social event is “How is real estate? I hear it is just unbelievably bad out there.” Most of our acquaintances and friends are very well informed and they are generally surprised by our answer. They have listened to nightly news shows about the dire straits of real estate or read blaring headlines about foreclosures and short sales (more about these two later!) The truth is that residential real estate prices in Indianapolis appear to have hit a low in mid to late 2009 and are off approximately 12% from the highs experienced in 2006 . Another significant fact is that the oversupply of homes for resale has declined substantially by the end of 2009. Experts are forecasting that Indianapolis is well poised to recover from the Great Recession sooner than many of our Midwest neighbors. In addition, with interest rates under 6% and the continuation of tax credits for home buyers, many economists are predicting upward trends for Indianapolis real estate. Look for more posts about this subject in the near future.