Spring housing market favors buyers
Indianapolis-based F.C. Tucker Co. says the spring housing market in central Indiana continues to shift in favor of home buyers. It says housing inventory continued to increase in March, and the average home sale price increases “cooled slightly.”
Tucker says central Indiana housing inventory increased 56.9% last month, compared to March 2022. It also says the number of pending home sales dropped more than 16% compared to a year ago.
“We typically see a strong seller’s market in the spring months, with significant increases in demand and lower housing inventories,” said Jim Litten, president of F.C. Tucker Co. “In March, however, we’re seeing the market shift more in favor of home buyers, with inventory continuing to increase and the increase in the average sale price for a home slowing slightly throughout central Indiana.”
The average March 2023 home sale price for the 16-county central Indiana region was $320,564 an increase of 5.6 percent compared to March 2022.