Indianapolis-Carmel Forecast 2014

The Indianapolis-Carmel metropolitan area economy has experienced another weak year of growth along with the rest of the state and country. The financial crisis that began in late 2007 had significant repercussions in Indianapolis as well as everywhere else across the country. Slow economic growth still drives the Indianapolis economy. The good news is that unemployment has fallen to 6.9%, the lowest mark since 2008. But it is only a few percentage points lower than where it stood in 2012, and the local economy has only added about 16,000 jobs in that time. The Indianapolis residential real estate market has been one of the few bright spots in the economy. Median housing prices are up 10.3% since 2012, while inventories have remained flat. During the last few years, population growth has been picking up in Marion County and slowing in the surrounding counties.