The latest market data from the Indiana Association of Realtors shows more than 7,400 existing home sales across Indiana last month.

That’s 18% below last August, but 6% above a slower-paced July – and the second-highest monthly total of 2023.

While a limited inventory of homes for sale and mortgage rates staying near, or above 7% took a more pronounced toll on closed sales in July, August represents a modest rebound to close out the summer.

The state median sale price showed an expected late summer slowdown too, dropping by about a thousand dollars to $255,000.

While average daily listings of homes for sale increased to more than 10,000 in July and August, supply is still below 2022 and barely half 2019 levels – so historically tight inventory is still keeping prices 6% higher than last year.