September & October brought continued positive growth in the local real estate market. Year to date, we are just slightly behind 2017 and homeowners are still experiencing home appreciation.
As a state, Indiana is continuing to see positive growth.According to IU’s Kelly School of Business, Indiana continues to be in the top 1/3 of all metro areas in affordability and primed for continued growth. Our real estate market expects to grow by 3% in 2019. The slight uptick in mortgage rates has made headlines, but given the continued historic lows, rates remain good.
As we look to next year and beyond, millennials will continue to enter the market in force. The largest generation of home buyers, this group will drive the market for the foreseeable future.