I was at the Southside Mibor luncheon last week and found an interesting statistic I felt I needed to share. According to the National Association of Realtors, the average price of homes in the Indianapolis market has only dropped 1.3% including all of the foreclosures. We are one of the least affected areas in the country that hit by the recent foreclosure and mortgage crisis. We never had the appreciation like most areas in the country, so we are not as affected by homes losing so much value.
According to the National Realty News, the foreclosures have slowed and we should see a significant decline in 2009. Buyers will come back to the market due to low gas prices and record low interest rates helping to push home prices up a little. They are predicting buyers to come back to the market in droves because we will never see this opportunity again to buy a home and as you can see it really isn't a bad time to be a seller. Our homes locally didn't lose money like the National Media would like you to believe and now is the time to buy.