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Vigo County Housing Market Remains Level

A new report on the real estate market in Vigo County shows that the number of homes on the market in the area is slipping.
April Christle knows exactly what her dream home looks like.

"Out in the woods in a remote area, peace and quiet. I can look up and see the stars," Christle said. 

The problem is she's having trouble finding that in Terre Haute.

"People don't want to let go of their property out there. It's the same thing here in town, all the good houses are not up for sale," Christle said.

April's not alone.

A new report on the real estate market in Vigo County shows that the number of homes on the market in the area is slipping.

"The number of listings now is really low, we went through a period where the number of listings had increased,"Brian Conley, a real estate appraiser in Terre Haute said.

Homes in Vigo County are selling for less too.

In 2012 the average sale was more than $100,0000.

Last year it was just under $98,000. .

A good thing for buyers which may explain why more houses sold in 2013 than the year before.

"It's surprising that the average and median price went down a little bit, it would just indicate that we're selling more homes below $80,000," Conley said.

Economics professor Robert Guell says the high unemployment rate in Vigo County is also a factor.

"The number of buyers with stable employment that can easily garner the credit necessary to buy those homes that's the thing that's scarce," Guell said.

A problem some with jobs are running into as well.

"The banks aren't as easy as they used to be with getting approvals since the house market crashed a couple years ago," Christle said.
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