South Central Indiana Market Update

The South Central Indiana real estate market shows signs of great promise this spring and throughout the year.  In areas like Columbus and surrounding communities the employment numbers are high and unemployment rates hover around 7% which is below the state and national levels.   There is a strong demand for housing as inventory levels are well below their equilibrium points.  This factor continues to drive multi-family housing demand and developers are seeking opportunities while the dynamics of the market show favortism.  In regard to retail, the economic base multipliers all look positive for growth with many new job announcements.   This is evident as witnessed by the investigation of many developers seeking opportunities in many communities.  Wal-Mart moved into new stores this past year in North Vernon and Connersville.  This has spurred additional growth of shadow retail in Wal-Mart's wake.  There is very little excess inventory in most communities, towns like Greensburg, Seymour, and Franklin which are experiencing low vacancy levels.  On the flip side, other communities which have experienced the exodus of a major employer also suffer with vacancy as witnessed in Bedford and Connersville.   Overall, this is a great time to consider your options as we move from recovery to the expansion phase of the real estate cycle.  For specific details about opportunities, contact Rob Millman.