Indianapolis Market Watch

The familiar trend of strong prices and decreased activity continues in this
February and rolling quarter review. Central Indiana's housing market boasts
increased average and median sales prices for all time periods measured, with
the outlier being average sales price in the month of February down 0.6 percent. Median price for the quarter compared to the same three months past year reached $115,000; average hit $144,352.

Closed sales for the three-months ending in February decreased 9.1 percent,
no surprise given the market this time last year and the impending expiration of
the tax credit. February only sales dipped 13.9 percent. New Listings for the
same time period decreased 16.3 percent. Meanwhile, Pending Sales
decreased 19.3 percent to arrive at 4,119 contracts written. This meant overall
inventory levels increased just slightly by 0.2 percent. Months supply of
inventory was at 8.8 months for the three months ending in February.

Pent-up demand, continued low interest rates and central Indiana's continued
ranking as the most affordable market in the nation bode well for an active
spring. To that end, all eyes are on the critical metric of consumer confidence.