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GNIAR Reports 23rd Month of Consecutive Growth

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Home sales in the region continue on their upward trend, with the Greater Northwest Indiana Association of Realtors reporting the 23rd consecutive month of growth. CEO Peter Novak, Jr. says they expect to see numbers continue this way for the foreseeable future as demand for local appointments between their members has increased, reflecting a higher demand for buyers, which is clearly up compared to the same time frame in years past.
Lake County home sales increased 34-point-eight percent from May 2012 to May 2013, while home sales in Porter County increase 19-point-two percent during that same time frame. Home sales for Lake, Porter, LaPorte, Jasper and Newton Counties combined increased 29-point-six percent from the same time a year ago.
Novak says pent-up demand, and local property tax caps here in Northwest Indiana are factors for the increases, but first and foremost, it is the low-interest rates that are driving up demand.
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