FORT WAYNE, Ind. (WANE) – Fort Wayne real estate is getting recognized on the national level. The Wall Street Journal and Realtor.com named the city as a ‘Top 20 Emerging Housing Market.’
Fort Wayne is number three on the list. The Emerging Housing Market Index lists areas that are seeing home price growth in addition to offering other lifestyle amenities.
Coldwell Banker Realtor Sam Hartman said it’s exciting to see Fort Wayne get this recognition.
“Any time you get recognized this high on on a list, especially with names like the Wall Street Journal and Realtor.com, it’s super exciting for our housing market and community as a whole,” Hartman said. “Fort Wayne has been doing a lot of great things and we kind of poised ourselves for this momentum and for this moment.”
He said national rankings like this brings attention, good or bad, to the city’s market.
“I’ve taken a lot of calls from investors from all across the U.S. and one from Egypt that I’ve been doing interviews with, and so people are definitely taking notice of our market and starting to dip their toes in the water,” Hartman said. “The towns on this list are smaller, Middle America type of towns, they’re not the big cities with all the amazing, city amenities that you might expect. I think Fort Wayne has done a lot of amazing things over the last five years. Mayor Henry and his team should be really proud of the quality of living things they’ve done in our town. That’s just a huge benefit for not only our current residents but others that are now relocating to Fort Wayne or looking for a more affordable market to live, work and play.”
One of the indicators used in the Emerging Housing Market Index is how “hot” the market is and is expected to be. Hartman said Fort Wayne’s market is still on fire.
“One of the things we use to look at the health or balance of a market, whether it’s a buyer’s market or seller’s market, is the inventory of homes. We’re currently at 0.7-month supply of homes for sale. A balanced market is considered to be six-month supply so you can see we have a supply and demand issue here. Home sellers are still getting great values for their homes and home buyers are getting great interest rates, which is really helping with them affording that next house at that more expensive purchase price,” Hartman said.