Year-End Market Review: 2012 Turned a Corner!

The year-end 2012 housing data released by MIBOR today shows a significant and welcome increase in closed and pending sales in central Indiana compared to 2011. The number of closed sales in central Indiana increased 18.5 percent in 2012 over 2011. Closed sales rose 26.9 percent in the three months ending in December 2012 when compared to the same three-month period last year. In December alone, closed sales increased by 13.4 percent. Pending sales increased by 23 percent in the three months ending in December and 16.4 percent in the one-month comparison. For the year, pending sales increased 14.9 percent. Gains in activity were seen month after month through 2012 and prices remained stable. Median sales price for the year increased 3.6 percent over 2011. Average sales rose 3.3 percent for the year. Inventory stabilized to 7.4 months.