Typically there is a seasonal summer uptick during May through July; however that peak season came early in March and April with consumers taking advantage of the tax credit.

“Although mortgage rates are at historically low levels and prices remain affordable, unemployment and job uncertainty continue to hurt home sales” states Dan Breault, Regional Director of RE/MAX of Indiana.

While homes sales were sluggish, average home prices continued to climb with eight straight months of price appreciation. With the average price of $155,423, an increase of 8 percent on a year-over-year basis.

At $123,250 the July median home price—the figure at which half of the homes sold for more and half sold for less—rose almost 3 percent from one year earlier, that is 9 straight months of price appreciation on a year-over-year basis.