Report: More central Indiana home buyers competing for fewer homes

Photo of house. (WISH photo)

INDIANAPOLIS (WISH) – The 2017 Spring Market Trends Report from RE/MAX/Integra says there are more buyers competing for fewer homes compared to this time last year.

The study, released this month, lists several reasons for that including: potential sellers are waiting to sell because they are worried they won’t be able to afford or find their next home, a lag in affordable new construction, and more millennials are entering the market.

In fact, the study says millennials are now the largest group of home buyers across the country.

“They’re just in a position, better economy, better job market, they’re getting jobs that can allow them to afford a home and that’s the next wave of our home buyers,” said Helen Metken, owner of RE/MAX Ascent.

Metken says it is important to be financially prepared when wanting to buy a home. She says she tells her clients they cannot be actively looking at home or writing an offer on a home, unless they have pre-approval from a mortgage lender and have their credit in order.

If there’s a house that is priced well and in good condition that a buyer like, Metken says thhey have to go in strong, and that there may not be room for negotiating unless the home is priced too high or has some condition issues.

“If you know, in your heart of hearts, that this is the house for you, you have to go in strong and you have to go in right away, cause it will be gone tomorrow,” Metken said.

The report also says buyers in the Indianapolis area are looking for walkable communities and wanting to get in areas like Carmel’s Art and Design District, downtown Zionsville, Fountain Square and Irvington.

The report says that Boone, Hendricks and Shelby Counties are seeing some of the highest sales growth.

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