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Affordability boosts Indianapolis housing market 

Housing Wire

Indianapolis, which had 880,600 residents as of July 2022, offers a very strong and steady real estate market that attracts buyers looking for a more affordable lifestyle. Holle’s business was down about 10% in 2023 compared to 2022, which she attributes almost exclusively to elevated mortgage rates.

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Can we still avoid a recession?

Housing Wire

In addition, prices paid for transportation of products from China to the U.S. Now, this stressful aspect of transportation costs is gone and the fear of a downturn in the freight industry is taking hold. However, the biggest component of inflation isn’t the transportation cost of goods from China to the U.S.,

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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

The report noted that “most bankers reported that residential mortgage demand remained weak.” In turn, builders are offering concessions, such as offering lower-priced products and less costly features, in hopes of luring in buyers to the market, the report noted. However, housing affordability worsened.

Inventory 384
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Will Springer Realtor - Untitled Article

Will Springer Realtor

Government planners in our four-county region have until the end of this year to revise and then implement by mid-2025 their Comprehensive Plans for growth management to provide adequate space for housing, transportation and services (among many other aspects) to all its residents for the next 20 years.

HOA 36
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SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

New owners here spend an average of $232.5K on first-year costs, including a 20% down payment, closing costs, monthly mortgage, insurance and property taxes. The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so.

Sellers 36
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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

I also heard the same question from buyers this year. The Federal Reserve, which has been buying mortgage-related securities for more than a year to artificially keep interest rates low, has signaled a desire to taper its bulk purchases within the next month or so. And that answer appears to be “yes.” Who needs a car?!

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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

Also known as a mother-in-law or cottage, the dwellings can offer viable housing to younger buyers seeking to save for their first home or enable seniors to age within a familiar neighborhood. this chart shows, each time the economy slowed significantly, mortgage rates declined. In fact, rates have fallen by an average of 1.1