IN: Muncie Area Home Sales Down in February

Muncie, Indiana Real EstateAfter years of recession and job losses, after tightened mortgage requirements and hundreds of foreclosures, the Delaware County housing market is still waiting to recover. But when will the housing market bounce back?

The latest figures from the Indiana Association of Realtors show that closed home sales were down 43 percent in February compared to a year earlier. New listings were down 28 percent and the median sales price was $48,450, down from $67,000 a year ago.

Longtime local Re/Max real estate agent Brad Razor noted that 2010 was the worst in 16 years. “This year, you’re going to see numbers get better because in the spring and summer we always see improvement,” Razor said. “But I would be surprised to see the year improve over 2010.”

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