Indiana Homes will Remain in Great Demand in 2019

INDIANAPOLIS, Dec. 19, 2018 /PRNewswire/ -- Today, RE/MAX INTEGRA, Midwest released its 2019 Housing Market Outlook Report providing insight into the latest housing data and trends from 2018 as well as predictions for the housing market in Indiana for 2019.

RE/MAX INTEGRA, Midwest brokers anticipate Indiana's competitive sellers' market to continue in most areas of the state in 2019. Although mortgage rates remain historically low, brokers predict with rates expected to climb to 5-6 percent in 2019 that buyer demand may slightly wane.

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According to the RE/MAX INTEGRA Midwest 2019 Housing Market Outlook Report, the average sales price in Indiana increased 10.3 percent from January through October of 2018 to $168,871 compared to the same time period last year. The average price in Central Indiana increased 3.5 percent to $220,236.

"We are seeing what is being called a tale of two markets. People who wanted to purchase homes in primary markets or large cities are moving outside to tertiary markets and smaller towns, which has put a huge amount of pressure on those markets, causing prices to rise. However, we are seeing a bit of a stall in some primary markets because home buyers are pushing back on urban prices and choosing tertiary markets to get more home for their dollar," said Fiona Petrie, vice president and managing director for RE/MAX INTEGRA US operations. "Homes in Indiana are overall affordable and the outlook for housing in 2019 is strong. Experts predict we may see a general economic slowdown, but that won't happen until late 2019 or 2020. But real estate is not the protagonist. Buying a home will remain the most stable investment a buyer can make today and into the future."

Although the housing inventory will remain tight, RE/MAX brokers report several factors may ease heightened demand in some Indiana communities, potentially lowering prices in 2019. These factors include a modest increase in new home construction and the construction of market-to-luxury rate apartments, which have become an option for both millennials and retirees.  

RE/MAX brokers added that with the potential for less competition due to buyer fatigue, sellers in 2019 may take a more measured approach when determining sales price.

Click here to view the full 2019 Housing Market Outlook Report and also view the attached snapshot of key real estate markets across Indiana, including new data and insights from RE/MAX brokers.

About RE/MAX INTEGRA, Midwest
RE/MAX INTEGRA, Midwest is the regional entity for RE/MAX franchises in Indiana, Minnesota and Wisconsin. Since its inception in 1985, the region has grown to more than 280 offices with approximately 4,100 sales associates, providing residential and commercial real estate, as well as relocation and referral services.

SOURCE RE/MAX INTEGRA, Midwest

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