REAL ESTATE: Congress only threat to "a good run"

2013-10-20T00:00:00Z 2013-12-18T16:20:20Z REAL ESTATE: Congress only threat to "a good run"By Keith Benman keith.benman@nwi.com, (219) 933-3326 nwitimes.com

Northwest Indiana home sales have increased on a year-over-year basis for 27 straight months due to better consumer confidence, increased employment and low interest rates.

In September, home sale were up 11.3 percent in Lake County and 32.8 percent in Porter County on a year-over-year basis, according to Greater Northwest Indiana Multiple Listing Service data. Prices were up 5.2 percent and 10.9 percent respectively in those locales.

"The bottom line is the average listing price of a home is up and average sales price of a home is up," said Bill McCabe, broker/owner at Century 21 Executive Realty.

The biggest risk now for home sales appears to be the budget battles in Congress, where the reduction or elimination of the home mortgage deduction has been dangled as a bargaining chip.

"Obviously as Realtors we don't want to see that and you as homeowners don't want to see that," McCabe told a recent gathering of The Times Board of Economists.

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