Historic lows for mortgage interest rates fuel dynamic seller’s market
INDIANAPOLIS – July’s residential real estate market continued to see homes selling very quickly, despite another increase in housing prices. Monthly real estate statistics from F.C. Tucker Company revealed that July’s pended home sales decreased 4.6 percent compared to July 2020. In addition, year-to-date home prices increased 13.6 percent, and available housing inventory decreased 26 percent compared to this time last year.
“As expected, the fast-moving residential real estate market has continued into the summer, fueled by mortgage interest rates that remain at all-time lows,” said Jim Litten, CEO of F.C. Tucker Company. “Available housing inventory is increasing slightly, but the seller’s market will remain for the foreseeable future.”
Of the pended home sales in the region last month, 6 were priced $2,000,000 or higher; 42 were priced $1,000,000 to $1,999,999; 319 were priced $500,000 to $999,999; 1,017 were priced $300,000 to $499,999; 1,357 were priced $200,000 to $299,999; 1,219 were priced $100,000 to $199,999; and 298 were priced at $99,999 or less.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES
ACTIVE LISTINGS – INVENTORY
AVERAGE SALE PRICE
With more than $5 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than 40 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees. For more information, visit talktotucker.com.
Want to know more? Interested in Buying or Selling?