INDIANAPOLIS — No one has seen a real estate market like this one in Central Indiana. A unique combination of low interest rates and low market inventory caused by COVID-19 has forced home buyers to compete relentlessly for houses that sell at a premium in a matter of days, if not hours.
“If we’re looking to buy a house in this market, we’ve got to step outside our comfort zone,” said homebuyer Preston Bucher.
Preston and Melanie Bucher are trying not to get burned in this hot market. It’s not easy. They’re trying to buy a house in the Nora area, emphasis on trying.
“$20,000, $25,000 over what they’re listing for and the houses are going for more than that, you make every concession and that’s not good enough. We’re probably on house number seven now where it’s gotten to the point where an agent will say, I’m just not drawing up an offer because they’ve already gotten something…