First Positive Year-Over-Year Increase Since October 2008
First-Time Home Buyers Fueling Housing Market
INDIANAPOLIS - (November 18, 2009) - Indianapolis area home sales in October 2009 surged 23% compared to October 2008, according to new monthly data compiled by RE/MAX of Indiana.
Home Sales: By the Numbers
Ø 2,199 Homes Sold in October, 2009
Ø 1,781 Homes Sold in October, 2008
This jump is the first positive year-over-year percent increase since October 2008, and it can be attributed to first-time homebuyers trying to close on homes prior to the original closing date of the tax credit. The tax credit is now extended. Home sales in the $75,000 to $125,000 range were up 55% compared to the previous year.
Indianapolis has seen positive growth in home sales since the inception of the first-time homebuyer tax credit in February.