City-by-city price comps
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Indy could be one of the more stable markets in the United States this year, with little or no drop in home prices expected by forecasters. As with last year, housing prices continue to be below equilibrium, according to Local Market Monitor. It has seen a decline in single-family building permits — 38 percent between December 2007 and December 2008 — while multifamily building permits jumped by 128 percent during the same time period.
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| Median price end of 2008: |
$100,200 |
| Median price end of 2007: |
$114,000 |
| Percent change: |
-12.1% |
| Projected change through Q3 2009: |
-0.7% |
| Affordability rating: |
0.0 |
Foreclosures in 2008:
(1 for every 36 households)
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20,316 |
Foreclosures in 2007:
(1 for every 50 households)
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14,591 |
| Change in foreclosures: |
39.2% |
| Expected to hit bottom: |
Q3 2009 |
| Percent drop needed to reach bottom: |
-1.5% |
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