Sales of existing homes in the Region in June totaled 1,052, down 1.4% when compared to 1,067 sales in June 2019
Sales of existing homes in Northwest Indiana totaled 699, down 30.9% when compared to 1,011 closed sales in May 2019.
With people sheltered in place during the pandemic in recent weeks, Realtors expected the crisis to lead to a drop in sales of existing homes during April. Numbers showed an 11.9% drop compared to April 2019.
Sales of existing homes in Northwest Indiana in March appeared unaffected by the crisis created by the COVID-19 pandemic.
Plans to bolster town amenities, expand transportation driving new residential construction • People are continuing to relocate to Northwest Indiana.
Sales of existing homes across Northwest Indiana during the first two months of 2020 reflected the market likely would remain strong heading into the spring and summer months, traditionally the busiest selling time for the industry.
The Greater South Bend-Mishawaka Association of Realtors now operates as the South Bend Area Realtors.
Sales of existing homes in Northwest Indiana finished 2019 with fewer homes sold than the previous year.
John Phair, who has served as president and CEO of South Bend-based Holladay Properties the past 20 years, is stepping down from the post.
Realtor.com, the official website of the National Association of Realtors, in its annual forecast said the U.S. housing market will continue to slow in 2020 because buyers have fewer options and a cooling economy could sway others to rein in spending.