Average home prices in June in the nine-county Indianapolis area shot up 7 percent.
According to data compiled recently, 2,253 homes sold in central Indiana in June 2010. The average home price in June 2010 was $159,142, roughly 7 percent higher than the $149,373 recorded a year earlier.
“The gain in home prices is a hopeful sign that the market is in a good position for people on the sidelines,” said Dan Breault. “The stabilizing home prices, an improving economy and mortgage interest rates that remain historically low will help the housing market avoid disruptive and painful bubble-bust cycles.”
Marion County remained the most active county in the area. The county recorded 1,050 homes sold in June 2010. The average home price increased 11 percent, from $113,557 to $125,790.
Source: Indianapolis Business Journal
Submitted by: David Brenton