If you’ve been trying to buy a house over the last year, you know how crazy the market is.
What’s causing the competitive market?
A few factors, according to F.C. Tucker CEO Jim Litten.
He says inventory is down 51% compared to this time last year, meaning fewer options for buyers.
Plus, prices of materials, like lumber, have skyrocketed because of the pandemic, causing the prices of houses to go up as well.
Buyers are having to go well over asking price, just to have a shot at getting a house.
The average home sale price in Indianapolis last month was just under $300,000, according to F.C. Tucker.