Fast selling homes leaving housing market thin

ZIONSVILLE, Ind. (WISH) – There’s good news for people who want to sell their home, but it means buyers need to start acting fast.

Agents 24-Hour News 8 spoke with say the inventory of homes for sale in Central Indiana is thin, but one of the main reasons is because buyers aren’t wasting time making an offer.

In a house fit for a family, homeowner Misty Bolinger was hoping it wouldn’t take long before someone else wanted to call it their own.

“We just put the house on the market yesterday and we’ve already had, I think we had four showings yesterday,” she said.

In no time, one of those showings was heating up.

“We had an offer I think by 8:30 p.m. and it offered for more than we had listed the home for so we were pretty surprised and grateful,” she said.

The quick offer might have shocked her, but not to Jason Engle, managing broker for Century 21 Scheetz Zionsville.

“Obviously we can’t expect that for everybody, but it’s every day I’m seeing at least one home that is selling in under seven days or so,” he said. “It’s not really a frenzy, it’s just that people know that good homes are going to go fast.”

Home sales for Engle’s agency are up 30 percent since January. It’s a sign of strength not only for Zionsville, but Engle says all of Indiana.

“We do have a lower inventory than the national average, which means our market is moving more quickly and in a healthier fashion than the rest of the country,” he said.

That’s exactly the news a busy mother like Bolinger was happy to hear.

“It just feels like the pressure I guess is off. I mean, I still want it to look nice for anyone that’s coming in but at least it’s not seeming like it’s going to be a six month process,” she said.

Engle said that on Thursday, FHA loans dipped under four percent for the first time all year. He said that rate will make lending very affordable.

The Metropolitan Indianapolis Board of Realtors agreed that it is currently a seller’s market in Central Indiana, but it’s some of the doughnut counties like Boone, Hamilton, and Hendricks that are mainly pushing that trend.

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