Good News for Indianapolis Real Estate

Indianapolis Real Estate News

In what seems like an extremely rare occurrence, someone is reporting good news for the Indianapolis real estate market.  Market researcher Global Insight is reporting that Indianapolis could have one of the healthier economies of any major urban area in the nation next year. 

The crux of the report says that while other areas of the country will continue to be hobbled by the foreclosure crisis, Indianapolis has already seen the worst of it and is due for solid growth next year.  The report estimates that the Indianapolis area economy will grow by 2.6% next year, outpacing the rest of the Midwest and even some of the nation’s previous hot spots such as Denver and San Diego. 

Foreclosures will still continue to afflict the real estate market, but to a much lesser extent than they did this year.  “Indianapolis is not expected to see any more decline in economic growth due to this mortgage crisis” said Global Insight’s Jeannine Cataldi.  “They (Indianapolis) came to it earlier. They’ll come out of it earlier.”  Foreclosures were down 8.2% for the third quarter over last years numbers. 

Yahooo!  Indianapolis is finally first at something.  Everybody knows that Indiana is not exactly known for setting national trends, except for how to have the best football team.  Well, it is our time to shine; 2008 is going to be a much better year for Indianapolis real estate while other markets continue to struggle. 

Everything I am reading, seeing, and experiencing is telling me that we are at or very near to the bottom of the market.  Once spring comes I really think we are going to see a steady increase in real estate sales activity.  Right now is the time to buy; inventories are high, prices are low, and sellers are anxious to sell. 

Related Links:

• Indianapolis Homes
• Carmel Real Estate
• Fishers Real Estate

Date: Thursday, November, 29th 2007 @ 08:07:27 AM
Views: 207

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