The number of homes sold statewide in May increased 15.8 percent from April and 2.8 percent from the same month of last year. This is according to the monthly Indiana Real Estate Markets Report today released by REALTORS.

“We thought last month’s uptick in listings might indicate that potential sellers were getting ready to meet buyer demand,” said Bruce Bright, 2015 President of the Indiana Association of REALTORS®. “That didn’t happen. In fact, new listings decreased 3.8 percent from April. So our advice remains. Low inventory means buyers should get ready to move fast if they find the right home. Get your financing plan in place now, before you begin a serious search.

“A fundamentally sound real estate market is essential to a healthy economy,” continued Bright. “If interest rates stay low and the job market, particularly wages, stays strong, real estate will have done its part to foster the vibrant communities in which we want to live and work.”

“If I were to describe Kosciusko County’s current real estate atmosphere in one word, it would be busy but it would not be a stretch some days in this busy market to call it crazy. This is all positive for our local economy,” said Kim Clark, 2015 Board Vice President of the Kosciusko Board of REALTORS®. “The listing inventory is down from this time last year. The lack of selection has created an upward rise in overall median sales price, thus pushing us towards a more seller’s market. The consensus is that if the buyer hesitates today, the home could be sold tomorrow!”