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Weekly Real Estate Report by Wes Johnston, Trueblood Real Estate. 317-223-3182, wes@homesofindiana.us
Weekly Real Estate Report · Week of October 5–11, 2026

What moved in real estate, Oct 5–11, 2026

Rates hit 7.40% this week, and Central Indiana's September numbers show the market feeling it.

By Wes Johnston, REALTOR® · Trueblood Real Estate · Published October 12, 2026

Rates: 7.40%, the highest since November 2023. Freddie Mac's weekly survey put the 30-year fixed at 7.40% on Thursday, up from 7.28% the week before and 6.30% a year ago. That's seven straight weekly increases. The 15-year rose to 6.73%. On a $350,000 loan, principal and interest is about $2,423 a month, roughly $29 more than last week and about $257 more than a year ago. Trading Economics ties the move to a bond selloff and expectations that rates stay higher for longer. September CPI comes out Wednesday, October 14, and it could move rates again.

Pending sales fell to the lowest level since 2014. Redfin's September report, released Monday, shows pending sales down 4% from August, the biggest monthly drop in more than three years and the lowest level since spring 2014 (leaving out April 2020). Homes for sale rose to the highest level since March 2020. Of the sellers with active listings, 19.8% cut their asking price in September, and 60.5% of homes sold below their original asking price. The national median sale price was $393,895, up just 1.3% from a year ago, the smallest gain since February.

FHA is opening the door to more credit scoring models. On October 9, FHA published its guidance letting lenders use VantageScore 4.0 and FICO Score 10T alongside Classic FICO. It applies to FHA loans with case numbers assigned on or after January 1, 2027, and the minimum score thresholds of 500, 580 and 620 don't change. Nothing is different for a buyer today.

Locally, September shows a slower, more balanced Indy. MIBOR's September report is out. The single-family median sales price was $320,000, up 1.3% from a year ago and down 2.9% from August. Closed sales were 2,549, down 3.5% from last September, and pending sales were 2,393, down 6.8% from a year ago and 10.9% from August. The median home took 27 days to sell, up from 20 a year ago. Active inventory was 7,405 homes, up about 16%, which is 2.9 months of supply versus 2.4 last September. Homes still sold for 98.1% of list price on average. Condos and townhomes did better, with a median of $245,000, up 4.3%. MIBOR's CEO called it a more balanced market.

Bottom line: Rates at 7.40% are doing what you'd expect: fewer contracts, longer waits, more room to negotiate. Locally, prices are holding at $320,000, but homes take 27 days instead of 20, so the first two weeks on the market matter more than they used to. If you're buying, you have time and leverage. Ask for seller credits or a buydown instead of waiting on rates. If you're selling, price it right on day one. If you're under contract, set your lock plan with your lender before CPI on the 14th.
Sources

Where these numbers come from

Figures are as reported the week they were published and may have been revised since. Local numbers are from MIBOR REALTOR® Association unless noted.

All reports Older: Sep 28–Oct 4, 2026 →
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