Sept 2019 vs 2018

Northwest Indiana Home Sales and Values

WOW! So, the truth in everything I have been saying for years is coming to light. Years ago, I said that low interest rates were a band aid fix to a bigger issue and if the rates go up home sales will slow. With that being said! In January rates were about 5.5% to almost 6%. In June/July the Rates were under 4% and have stayed there roughly at the 3.5%-3.875% range now.

So, FOR THE FIRST TIME since Late the 3rd quarter in 2018 Home Sales in Sept of 2019 were up 4.18% compared to Sept of 2018. See, your Sept closings are deals that originated in July and August. The price per square foot average was also up 5.52% in Sept of 19 compared to Sept of 18. Another big increase which is good for sellers just not really buyers is that 20.05% more homes SOLD within the first 30 days of being on the market.

The market is doing extremely well, and I personally think it will continue in this direction if the rates remain low. Mainly it makes homes more affordable. On the bad side, we have many buyers and a lack of inventory which means lower rates will ultimately INCREASE Home Values as more buyers are brought into a specific pool.

About the author

Brent Wright

Brent Wright

Real Estate Professional - Realtor

Brent Wright is not your fly by night realtor. He is a realtor that cares for his clients and has the most respect for a real estate transaction. He always stays on top of new and up to date factors in the Real Estate market such as different loan styles, market prices, average times, price points and much more. Brent Wright is not your normal realtor. He is more like a Real Estate advisor. No matter what your real estate transaction is Brent Wright will be there to guide you through all options that are available to you.

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