MIBOR Releases Housing Data
 

INDIANAPOLIS – According to statistics released last month by the Metropolitan Indianapolis Board of REALTORS® (MIBOR), 7,073 homes pended during the quarter of March through May 2009. This number, which is down 8 percent from the same three months in 2008, represents the most positive pended news since October 2008 and the first time the decline has been in single digits all year. Pended home sales are a forward-looking indicator based on contracts signed, but not closed.

Months of supply decreased from 9.8 months in May 2008 to 8.7 in May 2009. Hamilton, Hancock, Hendricks, Madison, Marion and Morgan counties also saw a decline in inventory during the month of May.

To summarize, there are less sales, however, their are less homes on the market thus reducing the inventory for sale.  We are inching closer to a balanced market. 

Derek Gutting, The Gutting Group, Keller Williams Realty, 317 846-4888 www.GuttingGroup.com