Indianapolis New Homes - Great Time to Buy

Last week the Indianapolis Star reported what everybody is Indianapolis already knows; there is a surplus of unsold inventory homes from Indianapolis home builders.  This is really no shock to anyone and I think everyone knows that the oversupply of new homes is a major contributing factor to the relatively stagnant price in the Indianapolis real estate market. 

 The good news out of this article is that Indianapolis builders have slowed down their construction pace. A recent report found that the construction starts outpaced closings by 175 homes from April to June.  While the article does not portray this as good news, I believe this is an indication that Indianapolis new home builders have finally become realistic about the demand for Indianapolis new homes.  The report also indicates that the number of homes under construction or newly built totaled 5,541 at the end of June, which is a 5.6 month supply of homes.  Call me crazy but, I don’t think a surplus of 175 homes across the metro Indianapolis area over a 3 month period is cause for concern. 

While I do believe the builders are being much more realistic about the current and future demand for new homes in Indianapolis, the fact does still remain that there is an overabundance of new inventory homes on the market.  This is a great time to purchase an inventory home from any builder; most builders are desperate to get rid of these. 

If you are interested in purchasing an inventory home from any Indianapolis new home builder, please contact Red Door Real Estate. 

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