Regional Home Sales Rise Amid Statewide Slowdowns
Housing markets showed mixed but generally resilient performance in September, with some local areas posting gains despite higher mortgage rates and affordability pressures. Brown County, Indiana, recorded 18 pending sales, up 5.9% year over year, and a year-to-date median sale price of $416,000, while central Indiana overall saw pending sales fall 12.4%. Rock County, Wisconsin, home sales rose 11.1% to 200, compared with a 2.4% statewide decline; its median price increased 2.5% to $310,000, and homes sold slightly faster. In the Fort Smith metro, sales through August were up 4.1% year over year, but average time on market increased and a local broker warned rising rates could restrain further gains. Central and Southern Kentucky sales climbed 2% in September, showings rose 17%, and inventory reached its highest September level in seven years, although pending sales, new construction, and townhouse and condo sales weakened. Across these markets, increased housing choices and rate-related affordability concerns tempered otherwise positive local sales and price trends.
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