Tag Archives: Real estate pricing

# 3 on the 10 most affordable cities for homebuying list!

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According to CNN Money, Indianapolis ranks # 3 in the 10 most affordable cities for homebuyers (click here for the whole list)…here’s what they have to say about us:

Median income: $62,600
% of homes sold that are “affordable”*: 92.6%

The capital of Indiana is an important auto industry supplier, with transmissions, starters, gaskets and other parts still manufactured here.

As the auto industry has revived, so has the local economy. The city also has benefited from having diverse industries: Pharmaceutical makers (Eli Lilly), financial services firms (Conseco), the state government, and communications companies (Brightpoint) are all major employers. And the job market is improving: Unemployment fell in September to 6.4%, 1.5 percentage points below the national rate of 7.9%.

That’s great news for job seekers, but home buyers may not be quite as happy. A few years ago, Indianapolis regularly led the affordability index; it’s since slipped a couple notches. Still, Indianapolis is the largest metro area of the 10 most affordable cities.

Ready to buy or sell?  Let me help!  Click here for my website and let’s get started!

Where are home prices going?

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I am often asked where I think home prices are headed over the next year.  Reality is that we don’t know, with the election behind us, we can only hope it continues to improve!

Recently, several groups have stepped forward and given their projections as to what level of appreciation we can expect by the end of 2013. Here is what they said:

Demand Institute Study: 1.75% appreciation

Urban Land Institute: 2%

Home Price Expectation Survey: 2.44%

National Assoc of Business Economists: 2.8%

Wall Street Journal’s Survey of Economists: 3.25%

All five groups are calling for home values to rise through the end of next year. However, none are projecting that we will hit historic annual appreciation levels (3.6%) that existed prior to the housing bubble.

Think it might be time for you to make a move?  Call, text or email me – click here to visit my website for contact information!