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Indy will be among hottest housing markets this year, Zillow predicts. What that means

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Indy will be among hottest housing markets this year, Zillow predicts. What that means


Indianapolis is expected to have the No. 4 hottest real estate market in the country this year, according to online real estate listing site Zillow.

Most of the cities that made it onto Zillow’s annual list were in the Midwest, Great Lakes region and the South, with Buffalo, N.Y., predicted as the hottest 2024 housing market.

The list is based on an analysis of forecast home value growth, recent housing market velocity, projected changes in the labor market, home construction activity and number of homeowner households. The analysis was applied to the top 50 metropolitan areas by population.

More on real estate: See inside 3 of the top home sales in Indianapolis in 2023

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Also in the top five are Columbus and Cincinnati, Ohio, and Providence, Rhode Island.

Buffalo topped the list because of recent increases in the number of jobs created compared to the number of new home construction projects being approved, as well as expectations for steady home values.

Zillow’s predicted 10 hottest housing markets of 2024:

  1. Buffalo, NY
  2. Cincinnati, OH
  3. Columbus, OH
  4. Indianapolis, IN
  5. Providence, RI
  6. Atlanta, GA
  7. Charlotte, NC
  8. Cleveland, OH
  9. Orlando, FL
  10. Tampa, FL

Some of the highest mortgage rates since 2008 slowed growth in home prices last year, Zillow said, and it expects only 15 of the 50 largest markets to see home values grow in 2024.

Even some of the fastest-growing markets of 2023 are expected to see significant slowdowns in the year to come, said Anushna Prakash, data scientist for Zillow Economic Research.

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Local Journalism impact: For the greater good of Central Indiana: IndyStar’s Community Impact Report

Zillow predicts that low inventory will also continue. Some of the markets with the lowest supply in 2023, or in other words where homes generally sold the fastest, were in Hartford, Cincinnati and Columbus.

One factor keeping supply low, Zillow said, is that baby boomers are not selling their homes as they age to the extent previous generations did. Millennials, meanwhile, are aging into their prime home-buying years.

In 2024, only 14 of the 50 largest markets are expected to see homeownership rise, Zillow said.

Zillow’s list was based on the following data:

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  • Forecast annual home value appreciation in November 2024
  • Forecast acceleration in home value appreciation, November 2023 to November 2024
  • Days on market per home, January 2023 to November 2023
  • Two-year change in total non-farm employment per two-year residential building permit total
  • Projected change in owner-occupied households, 2023 to 2024

Contact IndyStar reporter Caroline Beck at 317-618-5807 or CBeck@gannett.com. Follow her on Twitter: @CarolineB_Indy.

Caroline’s reporting is made possible by Report for America and Glick Philanthropies. As part of its work in Marion County, Glick Philanthropies partners with organizations focused on closing access and achievement gaps in education. 

Report for America is a program of The GroundTruth Project, a nonpartisan, nonprofit organization dedicated to strengthening local newsrooms. Report for America provides funding for up to half of the reporter’s salary during their time with us, and IndyStar is fundraising the remainder.  

To learn more about how you can support IndyStar’s partnership with Report for America and to make a donation, visit indystar.com/RFA.





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Indianapolis, IN

IU Indianapolis AD Reacts to Capitol Hill Sports Gambling Testimony

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IU Indianapolis AD Reacts to Capitol Hill Sports Gambling Testimony


Source: Tom Williams / Getty

 

INDIANAPOLIS — NCAA President Charlie Baker testified Tuesday on Capitol Hill, urging lawmakers to implement tougher federal sports gambling regulations, citing harassment of athletes by gamblers.

IU Indianapolis AD Luke Bosso said digital platforms are increasing student-athletes’ vulnerability to such abuse.

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“It’s not just the sports gambling, it’s also the social media aspect,” Bosso said. “Every one of our players is available online all the time. When you put passionate people in a situation where they could be winning or losing money, and you make athletes available 24/7, it creates situations that aren’t always the best.”

Baker shared that an NCAA championship team needed round-the-clock police protection after a sports bettor threatened them. He also called on Congress to ban prop bets on college athletes, which are still legal in 20 states.

Indiana legalized sports gambling on September 1, 2019, and prop bets are allowed under the state’s regulations.

Though IU Indianapolis is a mid-major athletically, its student-athletes face the same pressure to perform as those at bigger schools, thanks to social media. Bosso said the school has staff dedicated to helping athletes manage that pressure.

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“We have conversations about mental health, we have conversations about the negative effects of social media, and we have a pretty in-depth mental health team that helps our student-athletes,” Bosso added.

Congress members say they will continue to look into the issue of sports gambling.



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Indianapolis, IN

Permanent daylight saving or standard time? What it would look like in Indianapolis

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Permanent daylight saving or standard time? What it would look like in Indianapolis


INDIANAPOLIS (WISH) — Time and time again, people keep bringing up the idea to stop changing our clocks twice a year. If this were to finally happen, and Indianapolis had to make the choice, what would be the difference between permanent daylight saving time or permanent standard time?

Here is what each would look like in Indianapolis:

Permanent daylight saving time would mean we “spring forward” and stay there.

Being on the western side of the eastern time zone, Indianapolis’ sunrise in permanent daylight saving time would be after 9 a.m. on the winter solstice, the shortest day of the year.

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On the summer solstice, or the longest day of the year, our sunrise and sunset times would be unaffected since we already are in daylight saving time in the current system.

Permanent standard time would equate to not “springing forward” at all.

In this case, the summer solstice sunrise time would change to 5:16 a.m. in Indy with a sunset of 8:16 p.m. The winter solstice would not be impacted since standard time is already used in the current system.

Basically, this boils down to if you are more of a morning or evening person. Sunrises and sunsets would both be earlier in standard time in the summer. Daylight saving in winter would result in later sunrises and sunsets.



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Indianapolis, IN

I-465 is open in final days of construction

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I-465 is open in final days of construction


INDIANAPOLIS (WISH) — We are finally seeing the end of a construction project that started in 2019. Lanes will be re-opening lanes and restrictions will be lifting on I-465.

As of Dec. 16, the Finish Line I-69 project is complete.

Long-term restrictions have been removed from lanes of I-465 between I-65 and I-70 on the southwest side of Indianapolis. Also the U.S. 31 SB to I-465 WB ramp, that closed in spring of 2023, is reopening.

“This milestone marks the end of major traffic disruptions on the I-69 Finish Line corridor,” said INDOT Commissioner Mike Smith.

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With only minor construction changes left in the coming weeks leading to Christmas, the corridor officially opened to traffic with the opening of the new I-69/I-465 interchange in August 2024.

“We anticipate having all mainline movements open prior to Christmas, with minor construction activities occurring this week and early next”, Smith said.

The construction targeted disruptions on I-69 allowing for many openings. Harding Street, within limits of I-465 and Elper Avenue at S.R. 37, are scheduled to open by the end of the year.

There will be additional minor additions and fixes to I-69 and I-465 including guardrail and drainage installations.

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