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Indianapolis Real Estate at the Bottom of the List

July 21st, 2008 categories: Indianapolis Real Estate News, Indy Home Buyers, Indy Market Trends

Home buyers seem to be concerned about the future value of the home they buy today. And, rightfully so! The national media makes it sound like all real estate markets are in deep trouble. Not the case; all real estate is local. If you are in the market to buy a home in Indianapolis, you will love the latest news from PMI Group.

PMI Mortgage Insurance Company recently released it’s Market Risk Index of the 50 largest Metropolitan Statistical Areas (MSA). These are the people who insure residential mortgage loans.

In plain english, the company rates major cities for the risk of property values being less in two years than they are today. At the bottom of the list is Indianapolis-Carmel. They rate the entire area of Metropolitan Indianapolis. In this case, it’s a good thing to be at the bottom.

The Indianapolis-Carmel area has less than 1% chance of property values declining in two years.

This is the list of cities who rank at the bottom.

  • Milwaukee-Waukesha-West Allis, Wisconsin
  • Cleveland-Elyria-Mentor, Ohio
  • Austin-Round Rock, Texas
  • Denver-Aurora, Colorado
  • Charlotte-Gastonia-Concord, North Carolina-South Carolina
  • Kansas City, Missouri-Kansas
  • Columbus, Ohio
  • Cincinnati-Middletown, Ohio-Kentucky-Indiana
  • Indianapolis-Carmel, Indiana
  • San Antonio, Texas
  • Houston-Sugar Land-Baytown, Texas
  • Pittsburgh, Pennsylvania
  • Dallas-Plano-Irving, Texas
  • Fort Worth-Arlington, Texas

To read the full report, click here.

Related Posts:

Indianapolis Real Estate Due to Bounce Back

Compare Real Estate Markets in the US

Indianapolis Ranked 6th Best Bargain Market

 

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This entry was posted on Monday, July 21st, 2008 at 10:55 pm and is filed under Indianapolis Real Estate News, Indy Home Buyers, Indy Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Ruthmarie Hicks said at July 22nd, 2008 at 10:09 pm

    This is a HUGE problem here. I’m working on a blog. Buyers are just sitting on the fence thinking that they will be able to “steal” a house in “a year or so.” That’s what they said last year…and the year before that….and the year before that…well you get the picture. Ever since the peak in 2005 its been like pulling teeth and I’m finally starting to PUSH THEM MUCH HARDER. The reason is tightening credit and interest rates that have no place to go but up. They are still in sticker shock - our prices haven’t come down more than a few token percentage points (condos/coops are UP and SF homes down 6%.) Everyone wanted a DEAL and they aren’t seeing them so they are sitting on their hands. But if they can’t get a loan - it doesn’t matter how low prices go.

  2. Artur | Phoenix Real Estate said at July 23rd, 2008 at 10:38 am

    It’s amazing how local real estate is, even down to individual neighborhoods. In Greater Phoenix some neighborhoods have declined over 18% from 2007 while several have increased by 2-11% over 2007. Still, there is much risk out there and lots of uncertainty.

  3. Davis CA Homes said at July 31st, 2008 at 2:37 pm

    Thanks for this article. This is a great list for real estate investors, as you can see which markets provide the least risk of a drop in value after you purchase. An astute investor should focus on markets like Indianapolis, Columbus, Austin, and San Antonio where the risk is lower and there is a better chance you homes value will hold. Although I did not see Boise on the list, or anywhere on the list in the main article……

  4. James Boyer Summit NJ said at August 11th, 2008 at 12:14 pm

    I totally agree with you. I my area of New Jersey we seem to be in recovery. The number of homes on the market has been steadily falling, and the number of homes selling and closing each month has been going up.

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