The Indianapolis times., 1929-07-13
Prices Are Decreasing OF
Stable in Most Areas,
Survey Shows.

With selling prices stable or de-
creasing in majority of localities
throughout the United States and
Canada, general activity in the real
estate market is found to be in
creasing or stable, according to the
thirteenth seni-annual survey OF
the National Association of Real
Estate boards.
Results of the survey, just COM
pleted, we're announced here today
by Donald e. Rider, executive sec
retary of the Indianapolis Real
Estate board.
Generally, the survey shows that
the market Is more active than il
was a year ago in Al per cent OF
379 cities reporting; 33 per cent
reported the market the same as a
year ago; and only 20 per cent
showed a decrease in general ac-
tivity. Selling prices were reported
higher by II per cent, the same in
81 per cent, and lower in % per
cent.
Approximately the same percentages
covered the situaticn With regard to rental
OF single family dwellings. with two-family
rentals generally somewhat lower. Apart
ment rents appeared most stable. IS per
cent Of the localities reporting them the
same as year ago. Is per cent higher
and II per cent lower.
District Above Average
The Survey covers practically every phase
Of the real estate market. In addition to
covering the United States and Canada
as whole, further compilation has
been made With the country divided into
ten districts.
General speaking, 1t appears that the
East North Central section. including
Ohio, Indiana, Illinois. Michigan and Wis
consin. is somewhat above the average"
Rider said.
Cities in this section reported the
market more active than last year in 40
per cent Of the cases, the same in "a
whereas II per cent reported sales prices
higher. So per cent the same. and 36 per
cent lower.
With regard to residential rentals in the
East North Central states, single family
dwellings we're reported up in IS per cent
Of the cities, stationary in 60 per cent
and lower III as. per cent; two family
dwellings. up In II per cent. stationary in
81 per cent. and lower in % per cent,
and apartments. up in 2l per cent, sta
tionary in So per cent. and down in II
per cent
Activity In Subdivision
Subdivision activity in this section was
reported greater in 81 per cent of reports.
the same as year ago in Al per cent, and
less In 28 per cent.
Central business location rentals are
lower in only I per cent OF the cities in
states OF this section, stable In 4S per cent
and higher in As per cent. whereas in out
lying business centers rentals are lower in
rs per cent of localities. the same in So
per cent and higher in IL per cent.
Office building rentals appear to be
stabilizing rapidly. Centrally located build
ings are getting higher rentals in only is
per cent OF the cases, lower in only per
cent and are the same as a year ago in 30
per cent. while in outlying locat tions. none
ISpOlteQ HlSHSf RENTALS only IL per cent
of reports from this district indicated
lower rentals and 80 per cent reported such
rentals as stable.
In all types Of buildings throughout the
east. north. central states. a normal
supply or shortage by far oyerbalances the
percentage of overbuilding. Regarding
single family dwellings. Is per cent OF the
reports only showed an overbuilt condi-
ton, while so per cent indicated the sup
ply was normal and as per cent saw
shortage Of available houses.
Apartments 'cF1ood Market"
Apartment building had been somewhat
overdone in Il per cent of the cornmuni-
ties reporting. while 5s per cent reported
the supply normal and SO per cent arc
experiencing a shortage Of such housing
units. A sufficient supply of business
properties is lacking in A. per cent of the
cities in these states. the supply is normal