INDIANAPOLIS — Two of four the northest Indiana counties have seen a drop in year-to-date existing home sales compared to last year, said a report released Monday by the Indiana Association of Realtors.
The decline is being attributed to the end of the federal home buyer tax credit, which ended April 30, 2010, and boosted sales in the first four months of last year.
DeKalb County experienced a decline of 28.6 percent, with 75 closed sales through April 2011, compared to 105 in the same period last year.
Steuben County saw a 19.6 percent decline for the first four months of the year, compared to 2010, with 82 closed home sales compared to 102 the previous year.
There was a swing in the opposite direction in Noble County, which saw 119 closed sales the first four months of the year, compared to 99 the same period last year, an increase of 20.2 percent.
LaGrange County had an increase of 3.8 percent, with 54 closed sales the first four months of the year, compared to 52 the same period last year.
Statewide, the number of closed sales decreased 21.0 percent to 4,929 for April alone.
“Neither year-over-year decrease is particularly surprising or concerning,” said Karl Berron, chief executive officer of the association. “We know that the April 30th federal home buyer tax credit deadline pulled sales forward last year. This resulted in sales before the deadline being artificially high, while sales during the summer and fall of 2010 were artificially low.”
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