The Herald Bulletin

Morning Update


January 4, 2014

Editorial: Home sales are good sign for county

Perhaps you thought last year that you'd never be able to sell your house. Perhaps you're still thinking that in the new year.

But the signs — "for sale" signs, that is — were encouraging for 2013. Sales of existing homes in Madison County were up 9.5 percent and the median sales price was showing an increase of 2.6 percent, according to a report issued by the Indiana Association of Realtors.

Through October, 1,216 houses were sold in the county at a median sales price of $79,900. Compare that to the 1,110 houses sold at a median price of $77,900 in 2012.

Good signs indeed. But is it enough?

Madison County's good news has to be placed in context with surrounding counties. And there, Madison County lagged behind all except Grant County. And the median sales price here showed less of an increase than Grant and Henry counties, but better than Delaware, Hamilton, Hancock and Tipton counties.

What has happened here is that the inventory of homes on the market is down as it has been the past few years. At best, Madison County is hanging in there.

And sometimes that's enough. The sales pitches now, however, have to focus on the expected rise in mortgage interest rates for 2014. So this spring may bring good news for local home sellers.

Sales of existing homes may continue to improve. And getting rid of of those "for sale" signs will be a truly good sign for this community.

In summary Sales of existing homes improve in an encouraging sign for the community.

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