Home sales stay solid in Northwest Indiana

Strong expansion in a sale of existent homes in Lake County in Sep was roughly adequate to lift a 7 counties that make adult a Greater Northwest Indiana Association of Realtors into certain domain for a month.

Statistics from GNIAR’s Multiple Listing Service uncover 1,002 sales for September, down 0.7% from final September’s 1,009. Lake County led a area with 10.8% year-over-year expansion to 614 sales.

The median sale cost continued a rise, augmenting 9.4% year-over-year to $164,000.

GNIAR includes Lake, Porter, LaPorte, Jasper, Newton, Starke and Pulaski counties.

Nationally, sales were down 1.5% year-over-year, to an estimated 5.39 million in September, according to a National Association of Realtors. It was a initial year-over-year decrease given Jul 2016.

The association’s arch economist, Lawrence Yun, pronounced direct stays clever even as sales sojourn sluggish.

“Realtors this tumble continue to contend a primary impediments gloomy sales expansion are a same as they have been all year: not adequate listings — generally during a reduce finish of a marketplace — and fast-rising prices that are straining a budgets of impending buyers,” Yun pronounced in a NAR’s monthly report.

Yun remarkable a illusive impact of hurricanes on inhabitant sales numbers.

“Sales activity expected would have been rather stronger if not for a fact that tools of Texas and South Florida — strike by Hurricanes Harvey and Irma — saw temporary, though important declines,” he said.

Local sales simulate a inhabitant trend. Each of a final 3 months have seen closings within 1% of a same month in 2016. For a year by September, sales are adult 2.4% to 8,471 and a median cost is adult 6.6% to $157,200.

The Lake County sales sum done adult for a 20.1% dump to 187 in Porter County, and a 16.1% dump to 120 in LaPorte County. Sales in a 4 smaller GNIAR counties were adult 3.8% to 81.

Median prices in a Region continued their rise, with Lake County’s adult 9.1% to $161,950, Porter County’s adult 14.9% to $195,000 and LaPorte County’s adult 3.7% to $140,000.


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Article source: http://www.nationalmortgagenews.com/articles/home-sales-stay-steady-in-northwest-indiana

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