Central Indiana Real Estate Sees Boost from Returning Mid-Income Buyers

Central Indiana's real estate market is experiencing a boost from returning mid-income buyers. According to Dan Brown, an F.C. Tucker realtor and broker, home prices have remained flat since last fall, making them more predictable for buyers. Interest rates have also plateaued at around 6.5%, making them affordable for most potential homeowners.

“March is typically the kickoff to the spring market,” Brown said. “We usually see prices jump up in March and they didn’t. They’ve actually kind of stayed fairly flat.”

Despite the stable prices and interest rates, the housing inventory remains a challenge in central Indiana. There is still a shortage of homes for sale, with new listings being quickly snatched up.

A notable trend is the return of middle-income buyers to the market after sitting out during competitive years dominated by investors and cash buyers. This shift is seen as positive, Brown said, as it brings more typical buyers back into the market.

As the spring market progresses, the stability in home prices and interest rates is expected to continue attracting buyers, with April showing promising activity in open houses and real estate offices.