Four pieces of good news for Indy buyers and sellers

Dramatic headlines sell. I get it.

But here’s the problem with national media: Indianapolis isn’t Los Angeles.

Or New York. Or Miami.

Good news #1: Indy has always been considered an UNDER-priced market.

Here’s what all of the markets in the U.S. do have in common, though: the relationship between mortgage rates and inflation. Do you know what happens to mortgage rates when inflation goes down (which it is now starting to)? They also go DOWN. That’s good news #2!

Another national commonality: Recession (which we are in, or are about to be in) = higher house prices. During 8 out of the 9 recessions we’ve had since 1960, the housing prices have gone up. The only exception is 2006 when a housing bubble was the cause of the recession, not the other way around. Good news #3.

The last (but not least) nugget of good news I have for you: Americans have more equity in their homes than EVER BEFORE (60% have more equity than what they owe) and mortgage defaults are at an all-time low for a year without referendums.

In short, despite the national headlines, the future is bright in Indiana.

(Wondering how much equity you have in your home? Send me an email!)