INDIANA – Indiana home sales and listings continued to trend below 2022 in July as higher mortgage rates and limited inventory chilled the summer homebuying season.

New listings dropped to 8,560 in July even as the statewide median sale price ($256,250) remained virtually unchanged from a historic high mark in June.

This caused total inventory to dip below 2022 levels as well, with just over 10,000 homes listed for sale on a given day through July.

Facing a one-two punch of elevated rates and fewer options, buyers closed 6,941 sales in a holiday-shortened July, down 19% year-over-year. The median days from listing to pending sale also crept
above a week, finishing the month at eight days. With the Federal Reserve widely expected to loosen its grip on interest rates later this year, Indiana housing sales have outperformed the national market without yet turning the corner to a stronger recovery.

Lawrence County local market update

Statewide: