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The Indiana Association of Realtors on Thursday released its August county-by-county home sales report. Statewide, home sales decreased 11.7 percent in August compared to the same month of 2008. Median price was unchanged.
In northeast Indiana, Wells County’s sales grew the most in August with a total of 32 homes, or a 28 percent increase compared with last year. Steuben’s sales plunged by 50 percent to 17 deals, the steepest drop in northeast Indiana that month.
But those Steuben buyers paid more for the homes than a year ago. Median home sales prices increased by 26.9 percent to $157,000, the highest increase in northeast Indiana. Median sales prices dropped the most in Noble, by 13.8 percent to $97,000.
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.
An investment group headed by the former CEO of Wabash Alloys LLC has acquired the assets of G&S Metal Consultants Inc., a provider of recycling services and recycled aluminum products. Terms of the acquisition by SRT Investments LLC were not disclosed.
A bankruptcy judge approved the sale this month after G&S filed for bankruptcy protection in June, SRT said in a statement.
As part of a larger deal, sister-company G&S Transportation Inc. was acquired by SRT Transportation LLC while G&S assets in Manchester, Ga., were excluded from the transaction. The new companies will be doing business as G&S Metal Consultants LLC and G&S Transportation LLC and will continue to operate in Wabash.
Current employment is about 20 people, down from a peak of 157. The new investors say they are optimistic about the potential for growth.
SRT Investments and SRT Transportation were formed by Bruce Warshauer, former president and CEO of Wabash Alloys; Walt Fuller, owner of M&S Steel of Garrett; Chris Elbrecht, owner of Elbrecht Concrete Inc. of Noblesville; and Fort Wayne businessman Jerry Henry.
Home re-sales dipped unexpectedly last month after a four-month streak of gains, providing evidence that the housing market recovery remains fragile.
The National Association of Realtors said Thursday that sales dropped 2.7 percent to a seasonally adjusted annual rate of 5.1 million in August, from a pace of 5.24 million in July.
Sales, which were still up 3.4 percent from a year earlier, had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.
The number of newly laid-off workers seeking unemployment benefits fell for the third straight week, evidence that layoffs are continuing to ease in the earliest stages of an economic recovery.
The Labor Department said Thursday that initial claims for unemployment insurance dropped to a seasonally adjusted 530,000 from an upwardly revised 551,000 the previous week. Wall Street economists expected claims to rise by 5,000.
