More homes going on the market but still not enough for demand

Home sales continue to bring good news for everybody but buyers, but one trend from the past September and October could bring some relief from the skyrocketing home prices in Northwest Indiana.
Pete Novak, CEO of the Greater Northwest Indiana Association of Realtors, which oversees real estate activity in Lake, Porter, LaPorte, Newton, Jasper, Starke and Pulaski counties, said there has been an increase in the number of new listings the past two months, something that hasn't happened in quite a while.
"New listings have been on the negative side for a long time, which is how we got into the situation we're in now with a limited supply of homes available to buyers," Novak said. "When you have a limited supply, the prices shoot up. The last two months have shown an increase, but we don't know yet if that is a trend. We'll have to wait for the November numbers."

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