INDIANAPOLIS — Homes in Indy are going fast right now.
Zillow ranked Indianapolis as its number two hottest housing market for 2025.
That’s based on:
- home value growth
- projected change in owner-occupied households
- job growth compared to new construction
- the speed at which homes are sold
“We’ve seen a major influx of people moving from major metropolitan cities. They’re wanting to increase their quality of life and their housing affordability," Mike Feldman, Real Estate Broker with Compass, said.
Feldman says right now there’s a trend where first-time home buyers and 55+ retirees are interested in the same properties.
“It’s a very unique time that very different demographics, different age brackets are competing for the same home," he said.
This comes at a time when home mortgage rates and home prices are higher than in recent years.
“Houses that were $250,000 to $300,000 just a couple of years ago are touching $400,000 right now. You’re starting to see those prices really push up," Edward Jones Financial Advisor Patrick Lane said.
There’s a lot to consider before buying a home.
Lane has different recommendations based on the type of client.
For first-time homebuyers, he says to evaluate your budget.
“How much can you afford to spend in this environment. How much of a down payment do we need to save," Lane said.
For retirees looking to downsize, he says look at how much equity you have in your current home.
“That is a lot of time the budget we’re going to roll into the new home and now they don’t have a mortgage walking into retirement," Lane said.
Ultimately, it’s important to be informed.
“When you’re evaluating this home buying process, sit down and run the numbers. With a professional, online. Make sure you have an understanding that you’re prioritizing all your goals," he said.
