IHCDA COVID-19 update: A message from Jake

From Jake's Desk

IHCDA COVID-19 update: A message from Jake

For months now I have issued these weekly notes to provide updates on COVID-19 housing and utility resources. However, this week I want to talk about how IHCDA helps to make the dream of homeownership possible for thousands of Hoosier families every year.

Despite the global pandemic, 2020 has turned out to be a great year for sales of existing and new homes in Indiana. According to statistics from the Indiana Association of Realtors (IAR), year-to-date sales are up 2.4% from a year ago, including up 20.7% in October alone.

It has been a record year for us at IHCDA. We have helped more than 2,600 Hoosier families become homeowners through one of our single-family programs. Our total loan volume of $383 million is a record for our agency.

As we look towards next year, there will continue to be a lack of inventory of homes for sale. This has led a growing number of Hoosier families to build. According to the US Census Bureau, nearly 2,000 single-family building permits were issued in October. That is the highest total in Indiana since 2007. With low mortgage rates expected to continue for the foreseeable future, the single-family housing market is poised for another strong year in 2021.

If you or someone you know is in the market to purchase a home I invite you to check out this webpage to find out how to get started. Our Homeownership team: Kim, Tom, Marianne, Dolores, Katryna, Mark, and Brienn, will be happy to guide you through the homebuying process and connect you with one of our participating lenders.

Thank you for your continued partnership and support. We are #INthistogether.


J. Jacob Sipe
Executive Director

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