The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-07-24
NEWS OF THE WEEK IN BUSINESS AND INDUSTRY
RISING ACTIVITY
IN REAL ESTATE
FELT BY NATION
Rapid Change in Market
Noted in Survey by
Association.
BIZ Times Special

BIZ Times Special
CHICAGO, July 24.-Real estate
activity is rising. The increased &C
tivity is measurable and well dis
tributed. That is the outstanding
fact shown by the twenty-first semi
annual survey of the real estate
market made by the National AS
ISOLATION of Real Estate Boards, re-
leased here today.
This is the first time since June.
1929, in which this semi-annual
survey has shown a predominating
upward trend in market activity.
The survey tabulates confidential
reports from the associations men,
Der boards in the principal cities of
the country The current study
covers 245 cities. OF the 245 cities.
SO per cent report a more active real
estate market than last year at this
time, "a per cent report less active
market. 81 per cent state that &C
tivity is approximately on last years
level.
The picture is changing rapidly.
The February survey Of this year
showed SIS per cent of the cities with
a market less active htan the pre-
vious year. "a per cent in a stationary
condition. and only II per cent with
increased activity. The low of the
four-year depression period from
the point of view of market trends
Though not from the point of view
of price levels came in July of
1892, when SO per cent of the cities
reporting showed declining activity
and only per cent showed in
creased activity.
Gains Greatest In Large Cities
Recent gain is most general in
the east south central section, where
81 per cent of the cities show a
more active market and not a single
city checks less active" In the
west south central section SO per
cent of the cities show an up move
ment; in the south Atlantic section,
so per cent; in the Pacific section,
SIS per cent. Strongest pickup so
far has come in the group of cities
of between 100000 and 100000 pop
ulation, where SIS per cent report
rising activity.
But while market activity is def
nitely and generally increasing,
prices are generally still at depres-
sion levels. They are lower than
last year in 10 per cent of the
cities reporting. They are already
higher in 3 per cent of the cities,
approximately on last years level
in 10 per cent. The west south CEN
trail section shows the most ad-
vanced pickup, with 20 per cent of
the cities here reporting higher
prices. Cities between 100000 and
100000 population are, as before, the
group registering the greatest gain.
Here 10 per cent of the cities al
ready feel the change in price level
upward.
Money Shortage Is Found
In 30 per cent OF the cities re-
porting there still is a shortage of
money for real estate mortgage
loans. In cities of over 100000
population, which of course includes
the principal credit sources for the
country, 80 per cent of the cities
report that loans are seeking capt.
tai. In cities of between 100000
and 500 900 population. 100 per cent
report loans seeking capital.
With interest rates key element
in the general business situation,
"a per cent of the cities report rates
on real estate mortgages as rising.
In SIS per cent of the cities, the rate
holds steady. In IL per cent 1t is
falling. The east south central sec
ton has the steadiest situation,
with 100 per cent of the cities re-
i