The Upstate Alliance of Fort Wayne REALTORS just released their market overview for the twelve month period ending July 2013. According to them, “It won’t be long before the housing recovery is simply referred to as housing.” Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, much inventory was purchased by these groups. Now that prices are rising, there’s less incentive for these kinds of buyers, yet affordability for consumers remains attractive.”
The numbers show that:
• Pending Sales were up 19.1 percent to 705.
• Inventory levels shrank 10.1 percent to 3,423 units.
• The Median Sales Price increased 1.3 percent to $113,500.
• Percent of Original List Price Received increased 1.3 percent to 93.9.
• Months Supply of Inventory was down 20.0 percent to 5.6 months.
With mortgage rates slightly up but relatively low by historic standards, the Fed
has indicated no change in monetary policy based on a moderately-paced
economic expansion. Although the unemployment rate remains a factor to
watch, the housing recovery continues to plug along, helping the greater
economy with flourishing activity in sales and prices. Housing has made a
positive contribution to real GDP growth for 11 consecutive quarters.
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.
Perry Township has long been a favorite choice for home buyers, and The North Eastern Group is excited to announce that construction has begun on Talon's Reach on Hathaway Road in Perry Township. Homes in this community will be very similar to those in Sorrento at the corner of Union Chapel and Tonkel Roads which...
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com. North Eastern...