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LaGrange and Noble are the only northeast Indiana counties that reported increased home sales last month, according to a state report released Friday.
It’s a step backward for the region, where six of 11 counties showed stronger home sales in June than 12 months earlier.
The Indiana Association of Realtors collected the monthly data, which showed home sales fell more than 6 percent statewide last month when compared with July 2008. The median sales price for those homes edged down 1 percent.
The association’s leader sees the numbers as a positive sign.
“The decline in sales is slowing and, when compared with a year ago, sales have not declined as much as they did in the first half of the year,” CEO Karl Berron said in a prepared statement. “This indicates that we may be near or at the bottom of this challenging period. Combined with the signs of the overall economy, there is cause for optimism.”
Northeast Indiana’s sales fell 50 percent more than the statewide figure, or 9 percent, for the month. The 11 counties reported a combined 696 home sales in July compared with 767 in July 2008.
In Allen, 408 homes sold last month, 7 percent fewer than a year ago.
Wells County posted the poorest performance in July with a 45 percent drop in sales compared with July last year.
Yet, Wells is the only northeast Indiana county where the median sales price has increased year-to-date compared with last year. The rest of the region has reported lower median sales prices, ranging from 3.2 percent lower in Wabash County to 10.9 percent lower in Steuben County.
The statewide median sales price fell 5.5 percent from January through July, compared with the first seven months of 2008.
Some factors affecting home sales include lower prices for foreclosed homes and a federal incentive to buy. First-time homebuyers qualify for an $8,000 tax credit.
The Realtors association compiles data from 18 listing services to create the report. The figures differ slightly from Fort Wayne Area Association of Realtors Multiple Listing Service data because some sales, including new construction and manufactured homes, are not included in the state report, according to the association’s Web site.
Figures also can change as late sales are reported or MLS membership changes.
