Indiana home sales rebound with 18% leap after April skid
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After a 19% drop in April from the previous year, Indiana home sales have bounced back with an 18% increase in May, which the Indiana Association of Realtors attributes to Hoosiers cashing in on new housing inventory. The increase was still 16% below May 2022’s monthly total.
Nearly 7,300 existing homes were sold, paired with 9,063 new listings, a 14% increase.
“Homebuyers came back to the market much faster than sellers early this year,” IRA president Lynn Wheeler said in a news release. “After a falling inventory of homes slowed the pace in April and the early part of May, real estate seems to be regrouping as we head into summer.”
The median home sale price also increased 4% from last month to $255,000.
IAR CEO Mark Fisher said there are still shortages in the state’s market that need to be addressed to make homeownership more attainable and affordable.
You can connect to the full report from the Indiana Association of Realtors by clicking here.