Welcome to 2025's first edition of Capitol & Market, our all-member source for industry and advocacy news, legal updates, housing market insights, education and professional development opportunities for Indiana REALTORS®.
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There's still time to register: Board of Directors installation, Legislative Briefing and Reception |
Don't miss the opportunity to welcome our 2025 IAR leadership team and Board of Directors and take part in our annual Legislative Briefing and Reception, all on Monday, January 27th – scroll down for more details or register now:
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Legal and Legislative Briefings – recorded sessions now available |
If you weren't able to sign on to last week's virtual Legal Update and Legislative Outlook, not to worry - access both Zoom recordings by clicking below and entering the passcodes under each button.
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Home sales hold steady from 2023 to 2024 as the state median price hits $255,000: |
- Statewide home sales totaled 78,426 in 2024, about 300 closings ahead of 2023.
- New listings grew 3% to 96,334; 2023 and 2024 remain the only two years in the past two decades where Indiana annual listings were less than 100,000.
- The overall inventory of homes for sale rose to 13,153 average daily listings, 16% above 2023 and the highest level since 2019.
- Inventory is still down 24% over the past five years; historically tight supply kept sale prices rising faster than inflation despite improved inventory – the median sale price increased 4% to $255,000.
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Homes went from listing to pending sale in 15 days in 2024 versus 12 days in 2023 (still a faster pace than pre-2020 markets – 19 and 20 days in 2019 and 2018 respectively).
- With more homes available and staying on the market longer, sellers accepted less than 96% of their original asking price in 2024 (about a third of a point less than 2023); half of all available homes had a price reduction since listing by the end of the year.
- 2024 sales and listing trends differed sharply by price: The number of homes sold above $250,000 grew 8% over 2023, while sales below $250,000 fell 7%. New listings above $250,000 jumped 12% from 2023 to 2024, while listings under that threshold dropped 6%.
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Take a deeper dive into market dynamics and expectations for 2025 with the full 2024 Wrap-Up Report; you’ll also find a closer look at regional trends (see below for a preview) or you can run custom reports for your market at the IAR Housing Hub.
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Register for a Delegation Day at the Statehouse |
There are still spots available at several of our REALTOR® Delegation Days for the 2025 session of the Indiana General Assembly.
Our first Delegation Day was held on Monday (January 13th) and rallied a capacity crowd of REALTORS® to engage their legislators on behalf of pro-housing policies across the street from the REALTOR® building at the Indiana Capitol.
Registration is more flexible this year: Each Delegation Day is assigned to several local associations, but you can select the option that fits your calendar best even if you can’t make the date for your primary board.
Our next Delegation Day coming up on January 27th coincides with IAR's 2025 Board of Directors Installation and Legislative Briefing and Reception later in the day (see below) - register now take advantage of this unique day of activities.
Check the calendar below and click to save your place (space is very limited):
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IAR's first Delegation Day brought a crowd of REALTOR® leaders together to get the scoop on our legislative priorities and put that knowledge into action at the statehouse.
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Indiana REALTORS® make 2024 a record-setting year for RPAC:
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Indiana REALTORS® made 2024 a record-setting RPAC fundraising year – exceeding our NAR RPAC recognition goal with our third straight million-dollar year. Last year’s RPAC totals were made possible by 193 major investors (an all-time high).
By supporting RPAC at unprecedented levels, IAR members showed their commitment to electing REALTOR® champions who stand up for homeowners, taxpayers and a strong housing market.
The investments of IAR members also make a big statement as we welcome a new Governor and begin a critical budget-writing session of the General Assembly: As Indiana’s largest professional association, REALTORS® are also energized and willing to invest generously to make a difference on a pro-housing agenda.
IAR RPAC fundraising committee volunteers took a more proactive role supporting local RPAC fundraising efforts, and the hard work and enthusiastic participation of local REALTOR® organizations certainly paid off.
Thank you to all members who invested in RPAC in 2024 (and remember, it’s never too early to start thinking about your 2025 commitment)!
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Board of Directors Installation, Legislative Briefing & Reception: Join us on Monday, January 27th |
Join us at the Indiana Statehouse on Monday, January 27th to install our 2025 Board of Directors, led by incoming IAR President Kim Ward!
After the ceremony (2:30-3:30PM ET), walk down Market Street for IAR's annual Legislative Briefing and Reception at 4:00PM in the Victory Ballroom of the Hilton Indianapolis.
Get an update on Statehouse happenings and the 2025 policy agenda from Senior Vice President of Government Affairs Maggie McShane, then join fellow REALTORS® and members of the Indiana General Assembly for the Legislative Reception (5:00-7:00PM) at 120 West Bar and Grill (off the Hilton lobby).
Please register today (click below) if you haven't already and help spread the word - all Indiana REALTORS® are welcome!
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There's no time like the present... |
While temperatures are low and business is slow, get started on your Continuing Education requirements with online, on demand member benefit CE from RECP - just click below.
(IAR members: Please be sure to log in and do not purchase the 12-hour CE package - these courses are included in your membership dues. Email info@recp.org for help logging in.)
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| KIM WARD
2025 IAR President
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Capitol and Market. It’s not only our address but also what we do. IAR backs you at the state Capitol and works to keep REALTORS® at the center of their local market. This newsletter will report on these efforts, as well as all the other information you’re entitled to as a member.
Add news@indianarealtors.com to your address book and be sure to let your local association know when you change email addresses (that’s where we get your contact). Thank you for reading and thank you for your membership.
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