Indianapolis: market posed to improve
The median home price in Indianapolis is an affordable $120,000. That is down 3.7% from a year ago. For that amount, you can find a nice single-story 3 bedroom, 2 bath home. Unfortunately, no matter how affordable the housing may be, it hasn’t been able to help the home sales volume in Indy which is down 8.4% from a year ago.
Manufacturing job layoffs in the late ’90s and early ’00s combined with a lot of new home construction — 80,000 new homes since 2000 — has taken its toll on the city’s housing market. However, things may improve for Indianapolis if the median home price continues at its current affordable level. And, if the projected blue- and white-collar job growth materializes with the arrival of new employers.