2013 was the year of housing rebound in Indiana and with that it is expected that 2014 will only improve more, creating a better housing market as well as a thriving environment for housing investors. Indiana has been classified as one of the strongest housing markets of 2014 with home values in the Kokomo metro area increasing 38.6 percent according to the Indiana Association of Realtors.
Indiana has formally been called the “fly-over state,” but with the housing market growing quickly it is hard to just pass over this state anymore. With the record low of interest rates, mores jobs coming into the state, and the loosening of lending standards Indiana’s housing market has seen a noticeable spike, with predictions that a 5 to 8 percent growth will happen just this year.
Housing demand is making a fast come back, and with that investing in the real estate market as well. Indiana is rated one of the top 5 places to be a rental home owner, and one of the most affordable markets to invest in. The rental price in Indiana went up 9.7% in the past year making this state a great place to invest with the current market.
Urban areas in Indiana have some of the best housing deals in the state with some of the lowest prices, and suburban areas have been labeled the fastest growing areas in Indiana. Suburban towns such as Carmel, Indiana have growing communities with great school systems and recreational parks for families. The suburbs are making a come back in Indiana with new industries coming into the city of Indianapolis, there is a higher demand for housing within a short commute of the city. The town of Fishers is a thriving suburb of Indianapolis a great place for young professionals who want to a short drive to the city.
The state of Indiana is quickly becoming one of the most affordable states to invest in the housing market. With just a bit of research potential investors can become well aware of the benefits of investing in the Indiana housing market.
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