INDIANAPOLIS — The housing market is at an interesting climax point.
“Obviously, interest rates were increasing,” shared owner of Mark Dietel Reality, Mark Dietel. “You would make the assumption with the increase of interest rates, obviously, buyer demand is going to go down, and then therefore, since demand would drop, you would assume values would go down as well. But inventory is extremely low. So that is the big issue right now.”
The low inventory of homes has left many home buyers with limited options, especially those with a limited budget.
“You're looking at when that demand does tick up and people start reacting to the rates,” explained Dietel. “Values are going to start going up, maybe not quite as much as they did in 2021 and 2022, but it's going to be it's going to be aggressive.”
Some are seeing the lack of options as a business opportunity.
Noblesville resident Dave Randall decided to use his nearly 40-years of construction experience to start his company Cool Cottages by DMR. The company places 230 square foot homes on a trailer platform.
“This little house is kind of the higher end market,” explained Randall. “It's got a lot of architectural details and high-end appliances, fully equipped. Bosch appliances. It's got a stacked washer and dryer, five-foot shower and queen bed on the main level."
The Dragon Fly Cottage is listed for $115,000 but he hopes that this house marks the beginning of a new solution to finding affordable housing.
“It can be a life changing thing for somebody that can't buy a house,” explained Randall. “You know, to be able to buy something a lot cheaper than the market and live there their whole life.”
