The impact of the COVID-19 pandemic continues to weigh on sales of existing homes in Northwest Indiana.
The Greater Northwest Indiana Association of Realtors, citing data from the Indiana Association of Realtors, reported sales of existing homes in the Region in June totaled 1,052, down 1.4% when compared to 1,067 sales in June 2019.
Lower sales also are blamed on fewer options for buyers. Available homes on the market in Jasper, Lake, LaPorte, Newton, Porter, Pulaski and Starke counties totaled 2,118 in June, down 36.2% from 3,320 listings in June 2019.
Region sales of existing homes also were down in May, which saw 699 closed sales, a drop of 30.9% when compared to May 2019.
Indiana’s overall real state picture reflects more optimism. Statewide, June closed sales totaled 9,031, which was a 1.1% increase from June 2019, the Indiana Association of Realtors recently reported.
“Not only were (Indiana’s overall) home sales better than the COVID-19 depressed levels in recent months, but they were also up from June 2019,” said Bernice Helman of Terre Haute, 2020 president of the Indiana Association of Realtors.
She said the statewide sales increase also is a result of “pent-up demand and historically low interest rates.”
There also are signs that home sales may be on the rebound in the Region. Pending sales in June totaled 1,200, up 13.2% when compared to 1,060 pending sales in June 2019.
Sellers in Northwest Indiana received 96.2% of their list price in June, down 0.7% from 96.9% when compared to the same month last year. The average sales price of homes in June was $211,777, down 0.9% from $213,792 from June 2019.