National media outlets have recently labeled Indianapolis the “second hardest housing market for 2025,” but the region’s largest brokerage, F.C. Tucker Company, reports a sharply different reality. According to the firm’s transaction data, Indianapolis is outperforming national headlines, with sales volume significantly higher than last year.
Donna Kreps, President of Residential Real Estate Services at F.C. Tucker Company, says the firm is up approximately 16% over last year in 2025, with many offices posting similar gains. “Not all real estate companies can tell you that,” Kreps says, highlighting what she describes as an apparent disconnect between national news coverage and actual market performance in mid-sized Midwest cities.
Kreps, who has spent 33 years with Tucker and 36 in real estate, says the problem extends beyond inaccurate reporting. She argues these national narratives influence consumer behavior, often leading buyers and sellers to hesitate or make decisions based on conditions that do not apply to their local market. “I wouldn’t buy all the stories that are in the media,” Kreps says. “Real estate is local. What’s happening in your local market is often very different than what you see on the national news.”
Kreps maintains that Indiana’s real estate market is fundamentally different from the volatile markets that often drive national coverage. “Indiana is a stable state without the extreme highs and lows you see in other parts of the country,” she explains. “We have always been very stable.”
This stability, Kreps says, is a significant factor attracting businesses to Indiana. “Our affordability factor is very high, and it allows businesses to come to the state because they know their employees can afford housing here,” she says.
In Indianapolis, Kreps describes current market conditions as normalization, not a downturn. “Houses are staying on the market a little longer, but not substantially longer,” she says. “We’re not at a balanced market of a four-month supply. We still have an undersupply.”
Kreps notes that market conditions vary by location and price point. Some areas and price ranges still see multiple offers and buyers presenting their best terms. In other places, buyers have regained some negotiating power and can request concessions that were rare over the past few years.
Kreps says the gap between national headlines and local performance has real consequences. Potential buyers who read about a “hard housing market” may assume those challenges exist locally, leading to unnecessary hesitation or missed opportunities.
“It’s important that buyers and sellers work with well-informed real estate agents who can help them navigate the current circumstances,” Kreps says. She emphasizes that recent changes are not so dramatic that buyers should avoid the market altogether.
She points to F.C. Tucker’s long history as a resource for clients navigating uncertain times. Founded in 1918, the company has operated through wars, recessions, market crashes, and booms. “We have experienced every type of real estate market there is,” Kreps says.
Looking ahead to 2026, Kreps projects continued healthy market conditions for Indianapolis and its surrounding areas. “I think interest rates are going to hold very close to where they are now, maybe slightly lower, which is healthy and still low by historical standards,” she says. “It’s a great time to buy, a great time to sell.”
Kreps identifies several growth areas that directly contradict claims of market stagnation. “We’d be remiss not to mention what’s happening in Whitestown and Lebanon with new business coming in,” she says. She also points to ongoing expansion in Westfield, intense activity in southern counties like Morgan and Johnson, growth in eastern Hancock County, and sustained strength in Fishers and Noblesville.
Fishers, she notes, ranks among the most affordable cities of its size nationally, further undermining the idea that local buyers face insurmountable challenges.
F.C. Tucker’s strategy for addressing the perception gap relies on agent education and client guidance. “Our ability to forecast upcoming changes and prepare our organization is critical,” Kreps says, referencing the company’s leadership structure across corporate departments and branch offices.
Kreps emphasizes that market conditions are highly local. “A neighborhood in Fishers operates under different supply and demand than Lebanon or Morgan County,” she says. “A first-time buyer looking under $300,000 faces different realities than someone shopping at $500,000.”
She advises consumers to seek out experienced professionals for guidance. “If you want to know what’s going on in real estate, talk to a trusted professional who’s been in the business a long time and can help you navigate,” Kreps says. “Don’t assume you know what’s happening based on headlines. Let an expert help you.”
Whether more brokerages in mid-sized cities will begin to confront national real estate narratives with their own transaction data may depend on how long the disconnect between headlines and local performance persists. For now, Kreps and F.C. Tucker continue to make their case: in Indianapolis, the numbers tell a much different story than the national news.
UPDATE: This article has been updated to clarify statements made by the source.
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