Indiana Housing Market Sizzles and Buyers Feel the Pressure
As we head in to the 2019 New Year, let’s take a look at the outlook for the Indiana Real Estate market with a particular focus on our local area in Lawrenceburg IN. 2018 saw buyers squeezed as the housing market sizzled with demand far outstripping supply, and despite some market volatility on Wall Street, the main economic indicators for Main Street USA continue to look very positive, which in turn means buyers will continue to be stretched in a sellers’ market.
The number of homes coming on to the market is going to continue to be constrained, increasing demand-side pressure as more buyers compete to buy limited housing stock. With Cincinnati a short commute away from us, Lawrenceburg and SE Indiana are likely to see continued house price increases due to the increasingly hungry appetite for buying larger homes with some acreage to enjoy a more peaceful country-style setting than the city offers.
We see home prices increasing across the area, and this includes the prices farm houses and mansions are commanding, though the latter is more sensitive to economic indicators. So far, Wall Street issues with the stock markets has not translated into Main Street economic concerns, which means while investment-types may be losing money, the rest of the US is enjoying an economic boom with good wages and company profitability.
Buyer confidence is increasingly high, while those thinking of putting their home up for sale are enjoying short sale times at or above their asking price.
Our outlook for the 2019 Indiana Real Estate market remains positive with sellers still in the driving seat when it comes to negotiations and buyers under pressure as they compete for a limited supply of homes for sale in the Dearborn, Ripley, and Ohio County areas.