14 News, The Tri-State's News and Weather Leader-Housing sales doing well in Tri State

Housing sales doing well in Tri State

By Laura Forbes - bio | email | Twitter
Posted by Jill Lyman - email

EVANSVILLE, IN (WFIE) - Nationwide new home sales took an unexpected dip last month, falling 3.6%, but in the Evansville area, experts say housing sales are starting to pick up.    

"In the last four months it has been a steady increase and the best we've seen since 2001," said realtor Carl McClintock.

One major reason is the $8,000 tax credit for first time buyers. Another reason consumer confidence is going up locally despite job cut announcements from companies like Bristol Myers.

"The stock market is improving. They're excited about announcements from Berry Plastics and Toyota," said McClintock. 

"That stabilization that is occurring is sending a signal that economically we're starting to see a recovery from the recession," said UE Dean of the School of Business Bob Clark. 

Most of the increase is found in low priced homes, but it is starting to reach high end homes.

"Real estate recovers from the bottom up." said McClintock. "We're moving up the ladder."

Clark says while people are more willing to buy, they're not yet starting to build.

"I was told in Warrick County there might be 2 homes about $250,000 currently under construction by builders."

Still experts expect local housing sales to continue at a steady rate through the winter and possibly pick up even more in the spring or summer.  

Experts say credit is still tough for many people to get. They say once the credit market frees up, that will help home sales continue to rise.

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