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According to Real Trends April 15, 2009... Prices in seven markets-New York, Boston, Houston, Los Angeles, San Diego, Miami and Charlotte-are now showing three months of sequential listing price increases.
Being in the Midwest, we tend to lag these markets. When those markets crashed, the Indianapolis market followed behind about 3 to 6 months. We obviously didn't crash as hard because we didn't have the appreciate the other markets had. However, while our prices have not gone down as much, our # of sales have went down dramatically when comparing to these other coastal and high appreciation markets.
If these markets are turning now, expect the Indianapolis market to follow suit in 3 to 6 months.
Derek Gutting, The Gutting Group, Keller Williams Realty, 317 846-4888 direct
