April 16, 2021
As we begin the second year of the pandemic, I want to express my gratitude to you. Your patience, understanding and flexibility helps us be successful in this challenging environment. Watching you adapt inspires our own efforts. Your coaching helps us be better. Because of your support, we are learning from this experience and will be even better in the future because of it.
This month, there is not much in the graphs and numbers that we don’t already know. The volume of mortgage originations the last four quarters is remarkable. The purchase market remains strong, the declining inventory of homes for sale notwithstanding. Comparisons to last year will be less enlightening going forward due to pandemic related effects on home buying and modestly rising interest rates.
The Indiana Department of Local Government Finance changed the sales disclosure process at the beginning of the year. As a result, the data used to prepare some of our quarterly graphs about purchase transactions is unavailable. Those charts are not included this month. When that data becomes available, the charts will be updated and included in a later report.
Enjoy the spring!
~ John Bethell