The housing market in central Indiana is undeniably getting better. The last quarter has seen listing inventory, that is the number of homes for sale, decrease while the average price has increased, and interest rates are amazing. And it's highly likely that the housing market will continue to get better.
But it doesn't always feel that way, does it? The economic news of the past few years has us all beaten down a bit.
David Caveness, vice president of Carpenter Realtors, explains, "The biggest challenge to a sustained recovery in central Indiana’s housing market continues to be consumer confidence. The downward trend in the monthly Consumer Confidence Index continues to put a drag on the housing recovery. Despite favorable prices and interest rates, many prospective home buyers simply lack the confidence in their personal situation to undertake such a major purchase."
A bright spot today highlights a drop in initial unemployment claims to a seven month low. While national data doesn't convey your personal story, you should nonetheless know that if you want or need to make a housing change, there are reasons to be optimistic. There is data to prove that things are moving positively, if slowly, but positively.
The wind is changing direction. We should make our sails ready.
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