CARMEL — Carpenter Realty’s Chris Dykes has been a manager with the firm for over 20-years and he has never seen the market like this.
“It’s the most complicated market we have been in in decades,” Dykes explained.
Dykes says that high interest rates alongside the amount of millennials looking to buy homes is contributing to the low supply-high demand market for homes.
“I don’t know that you can find a single family home for less than $250,000,” Dykes said while speaking about homes in Hamilton County. “This is a great market if you own a home. It’s a very tough market if you don’t.”
Carmel Mayor Sue Finkam has only been on the job a couple of months but one of her first actions established a housing task force aimed with tackling the questions facing the city’s housing options.
“Housing is at the top of the list most cities are looking to tackle,” Mayor Finkam said. “We don’t anticipate we can tackle every element like the shortage of housing or the fact interest rates are high but what we can do is continue to listen to our constituents.”
WATCH | Carmel Mayor to launch task force addressing housing disparities
On Thursday, the task force hosted their first public input session.
“It was really just hearing a lot about their stories and hear what they are looking for,” task force chair Christine Zoccola said. “What we are missing the most of is that middle housing. (Residents) want that smaller ownership opportunity and it’s the same for the people that are empty nesters that want to downsize.”
One of the biggest challenges for Carmel lies in the lack of space available for new development.
“Most our development in the future is going to be redevelopment and infill,” Mayor Finkam said. “Both of which are much more difficult to do because you have housing or businesses around you.”
The task force is set to make their final presentation of their findings and suggestions in the coming months.
More information about the task force can be found here.
