Healthier custom home sales


For Robin and Michelle Eiteljorge, Saturday was a good day.

"We just purchased a new home" said Robin Eiteljorge.

The couple has been casually looking for a new home for close to a year, but decided now was time to pull the trigger and build a house in Carmel.

"I think the prices are starting to go up so actually we just heard about a price increase on these new homes," said Robin.

"Interest rates are so low and it seems like a good time for us," added Michelle Eiteljorge.

In fact, it seems to be a good time for a lot of people.

All around central Indiana, new home construction can be seen and heard.

Custom Builder Joe Gradison says for 27 years they have weathered the housing industry ups and treacherous downs.

"This is the best time we have had in the building business since we've been in the business," he said.

Gradison Build and Design is one of the builders involved in this years Home-a-Rama in Carmel.

For the first time, all four homes on the tour were sold before the show opened. He says that's an indication people are ready to build.

"There is a lack of inventory, new home inventory that's available because we just aren't speculatively building houses like what was happening pre-recession," said Gradison.

Existing homes are also starting to sell. In fact as the market continues to strengthen it's boosting consumer confidence encouraging potential buyers to finally make the move.

If people out there are thinking about selling, there are buyers out there wanting your home.

Realtor Sue Applegate says this is a great time for the housing industry but stops short calling it a boom.

"Were not going to say that we are out of the woods yet but were certainly at the edge of the forest," said Applegate.

There are other solid signs the housing market is on an upswing.

According to MIBOR, Central Indiana saw a 17 percent increase in new listings for September a 21% increase in closed sales and the average home price went up more than 4 percent from this time last year.