You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Beer trend reversal brewing
    RICHMOND, Va. – Helping to quench a growing thirst for American craft beer overseas, some of the United States’ largest craft breweries are setting up shop in Europe, challenging the very beers that inspired them on their
  • SDI forges $1.6 billion deal for Mississippi mill
    Steel Dynamics Inc. is significantly expanding its steel production with the $1.625 billion purchase of a Mississippi mini-mill, officials announced Monday.
  • Existing-home sales dip in 1st half
    Sales are down from last year, but real estate officials say there’s reason to be upbeat.
Advertisement
At a glance
Home sales data for December:
Pending sales: 416
New listings: 486
Homes for sale: 2,909, down 7.6 percent from 2011

Home sales up 10 percent

Average price also rises in region, according to report

Those who work in the local housing market feel they have something to build on.

Last year, 6,602 houses sold – an increase of 10.1 percent from the previous year, a report Wednesday from the Upstate Alliance of Realtors shows. Upstate, which tracks data primarily from Allen, Adams, DeKalb, Huntington, Noble, Wells and Whitley counties, also said the average 2012 sale price increased nearly 9 percent from a year earlier to $126,513.

Phil Stinson is president of the Upstate Alliance of Realtors Multiple Listing Service, which dispenses the data. He said residents seeking to sell their homes will have an easier time this year.

“With a reduced inventory of homes for sale, competition for properties is increasing, which is good news for sellers,” he said in a statement. “However, buyers should also be encouraged. The fact that interest rates remain at historically low levels means you can purchase more house at an affordable price, which makes it a great time to buy – even with increased competition in the market.”

According to Bankrate.com, an online financial resource, a 30-year-fixed mortgage rate in Fort Wayne ranges from 3.25 percent to 4.23 percent.

In December, sales slipped 3.1 percent, with 506 homes coming off the market compared with 522 sold in December 2011. The average sale price last month was $125,999.

The Upstate report said economic growth appears on an upward trend “and several prominent housing indices continue to showcase market turnaround. … It’s a welcomed change of pace. Plenty of opportunity lies ahead.”

pwyche@jg.net

Source: Upstate Alliance of Realtors

Advertisement