For the month of August, 2013, strong demand for a limited supply of Fort Wayne homes for sale has seemingly outweighed higher mortgage rates in the housing market. The possibility of mortgage rates rising further is likely spurring some of this demand. Buyers in the market should be prepared with competitive offers, as inventory of Fort Wayne homes for sale remains low and every measure of market health is pointing upwards.
Here is an overview of the August 2013 housing market compared to the August 2012 market:
• New Listings increased 3.0 percent to 1,045.
• Pending Sales were up 6.5 percent to 701.
• Inventory levels shrank 7.5 percent to 3,477 units.
• The Median Sales Price increased 4.6 percent to $115,000.
• Percent of Original List Price Received increased 1.7 percent to 93.5.
• Months Supply of Inventory was down 17.6 percent to 5.6 month supply.
Labor market growth is positive but still tepid. Things like
gas prices, stock market shifts and global economics have a tendency to sway
consumer sentiment. At the moment, U.S. housing continues to be a bright spot in the economy.
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.
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