INDIANAPOLIS — New data indicates that the housing market could be cooling after two years of high demand. In June, new home sales fell 8% to a two-year low of $590,000, per the Census Bureau."We're seeing supply rise, demand come down. We're seeing houses sit on the market longer. We're finally seeing price reductions for the first time in a long time," Sara Coers, Associate director of IU's Center for Real Estate Studies said.
"I think we're not going to slow down completely, but we're going to come off the madness a little," Coers said. "We got a strong offer that was good for the seller, so they wanted to accept, but it wasn't 100 offers or anything absolutely crazy," Moody said."They're not going to get the absolute top dollar, they're not going to get it in a day, and they're maybe going to have to give things back," Coers said.