TIPPECANOE COUNTY, Ind. (WLFI) - After a slight slowdown this summer, experts said the Tippecanoe County housing market is now booming.
Real-estate broker Brett Leuken said there was a sales decrease in late spring and early summer because of a spike in interest rates. He said there's been more of a demand for homes as school is back in session and as we head into fall.
Leuken said now is the time to buy.
"We still are seeing low interest rates in our local community which means it's a great time to buy. If you still obtain a great interest rate for a mortgage and the payment is lower than your currently paying for rent, it's a great time to go out there and look even if the inventory is still low there are still properties available to purchase.
In February of 2012, homes were on the market for an average of 112 days. This past February, homes only spent about 74 days on the market. That's an almost 34 percent decrease.
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