The Indianapolis real estate market has been facing mixed signals in the first quarter of 2010, with some indicators pointing towards a gradual recovery and others suggesting further problems with foreclosures and defaults. According to a March 23, 2010 article from WIBC, “Data gathered by First American CoreLogic shows payments on nearly 8 percent of all home loans in the 10-county Indianapolis metro area are at least 90 days overdue. The troubling figure comes despite efforts by the government, banks, and other lenders to assist homeowners struggling to bounce back from the recession.” The piece, composed by Liz Thomas, continued to note that “Bob Coffee, Fort Wayne Area Association of Realtors, says many residents wait too long to look for assistance. ‘They don’t necessarily seek the help as quickly as they should, and they may not exactly know where to go for help,’ Coffee said. About 150,000 mortgages were modified nationally in January. But about 4 million American homeowners still remain at risk for foreclosure.”

One effect that an increase in foreclosures could have on Indianapolis homes for sale is a decline in home prices, according to an April 2, 2010 article in the International Business Times. This piece noted that “Indianapolis cheap homes are expected to jump up this year because of the sharp rise in mortgage defaults in the area, based on records from the Fort Wayne Area Association of Realtors and a research firm.” The piece, composed by John Cutts, continued to state that “In January, the home loan delinquency rate in the Indianapolis metro area jumped up to almost 8 percent of all mortgaged homes, the highest rate hit in the area over the past 12 months.”

A decidedly more conflicted picture was portrayed by a March 24, 2010 article from Fox 59, which found that “Sales in Hendricks County fell more than 6 percent. But according to the Indiana Association of Realtors, Hamilton County was one of the bright spots. It saw a 10 percent jump in sales. And there is more good news. The statewide median sales price is up almost 7 percent from a year ago. But the good news in the housing market stops there. New data shows Indiana could soon experience another surge in foreclosures.”