Muncie Market Is Stable With Signs Of Growth

The Muncie-Delaware Co, IN market has been stable through the first 3 quarters with average sale price up slightly and unit sales up about 1%. Looking forward, Pendings are up 46% at the end of Sept. vs a year ago and the DOM of Pendings is falling. I expect to end 2009 with about a 13% increase in units sold and a modest increase in average sale price. Inventory has dropped significantly adding to groundwork for a more active market in 2010.

We still have problems at the high end and condo-duplex sales have been disappointing, but 2010 has great possibilities for an active market.