US home prices reach record high for sixth straight month

WASHINGTON — U.S. home prices reached a new high in May for the sixth straight month, which may raise fears of another housing bubble roughly a decade after a previous one burst.

The Standard Poor’s CoreLogic national home price index, released Tuesday, increased 5.6 percent in May, the latest data available. It is now 3.2 percent higher than its July 2006 peak.

Some analysts downplay the notion of a new bubble, and the unrelenting price increases may already be cooling sales. Other aspects of the last decade’s housing boom and bust, such as rapid sales increases and surging home building, aren’t happening now.

“Price increases vary across the country, unlike the earlier period when rising prices were almost universal,” David Blitzer, chairman of the Index Committee at SP, said.

A separate price index maintained by the National Association of Realtors is also rising steadily, though it remains about 9 percent below its 2006 peak. The SP CoreLogic index tracks the same houses over time and is generally considered a better gauge of price changes, while the NAR’s measure is affected by the proportion of higher-priced or lower-priced homes on the market.

Much of the price gain is being driven by Seattle; Portland, Oregon; and San Francisco. All three cities have strong population growth and more rental properties than other U.S. cities, SP says.

In San Francisco, just 36 percent of homes are owner-occupied, while in Seattle the figure is 46 percent and in Portland, 52 percent. All are below the national average of 64 percent.

From 2010 through 2016, the U.S. population has grown 4.7 percent, SP says. In San Francisco it has grown 8.2 percent, in Portland by 9.6 percent and Seattle, 15.7 percent.

Nationwide, the number of homes for sale has fallen on an annual basis for the past 25 months. There were 1.96 million homes for sale in June, down 7.1 percent from a year earlier.

Rising prices and a limited supply are starting to thwart would-be buyers. Existing home sales slipped 1.8 percent in June, the realtors’ group said Monday, and are nearly flat from a year earlier.

Even with the decline in sales, there are plenty of interested buyers. The drop in total listings mostly reflects soaring demand, according to real estate data provider Zillow.

The number of homes listed each month has been stable for most of the past five years. About 560,000 homes were put on the market in June, about the same as were listed in June 2016 and June 2015.

But would-be buyers are snapping up homes much faster. According to the Realtors, the typical home is sold in just 28 days, down from 34 days a year ago.

“Sooner or later something will have to give,” Svenja Gudell, chief economist at Zillow, said. “Demand will fade, builders will begin delivering more new homes and/or more sellers will start coming out of the woodwork. But for the time being, expect this strong sellers’ market to continue.”

Meet Danielle Hale, realtor.com’s new chief economist

Danielle Hale

Danielle Hale

Danielle Hale has been an economist researching the housing industry for almost a decade; she was incredibly helpful with shaping Inman’s deep dive on the home listing shortage earlier this year as the managing director of housing research for the National Association of Realtors (NAR).

So it’s perfectly appropriate that she’ll be joining a panel on stage at Inman Connect San Francisco to talk about that story and the lack of inventory — but her title will have changed: Hale is now the newly minted chief economist at realtor.com.

“I’m excited to be able to continue in this industry,” Hale told Inman. “I really do love the housing markets and housing research — it’s such an important market that touches so many lives.”

Before working at NAR for nearly a decade “covering everything from tax policy to, most recently, our data on existing-home sales,” Hale was researching at the American Enterprise Institute think tank, studying the history of the Federal Reserve.

“We are incredibly proud to welcome Danielle to the realtor.com family,” said Nate Johnson, chief marketing officer for realtor.com, in a press release about the appointment. “Danielle’s in-depth housing market knowledge and research experience will help us hone and grow our research capabilities so we can leverage realtor.com’s vast housing database to provide even more insights to homebuyers, sellers and dreamers and professionals.”

“Danielle possesses a rare talent for applying rigorous statistical analysis in all her work along with the ability to communicate the results to everyday people,” said Lawrence Yun, chief economist for the National Association of Realtors, in the release. “She will be a valuable asset to realtor.com and for consumers.”

Hale’s duties will involve “developing and translating real estate trend data into consumer and industry insights,” according to the release. “She also is tasked with leading a team of the industry’s best analysts and economists with the goal of providing deeper and broader housing insights to people throughout the home journey.”

“I’m coming into a really strong team,” she told Inman. “Realtor.com has excellent listing data, and they do a great job of making that listing data available at such a local level. It’s going to be really helpful to give some insights into what’s going on across the country.”

She added that right now, she thinks the inventory issue is “really important — making sure that there is sufficient inventory, especially at lower price levels, because another component affected by inventory is affordability.”

“Realtor.com’s economics and research operation has emerged as a leading resource for valuable, actionable and reliable housing market information,” she said in the release. “I look forward to working with the tremendously talented team to provide consumers and industry professionals with the tools and expertise they need to navigate the real estate world during this period of unprecedented competition and demand.”

Realtor.com’s former chief economist of nearly three years, Jonathan Smoke, left the company for a position of the same title in the automotive industry in April.

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US homes sales drop as supply dwindles

Homes in the U.S. (Credit: Rachel Elaine via Flickr)

Existing home sales in the U.S. took a dive in June, as demand outpaced a serious shortage in supply.

Sales of previously owned homes declined 1.8 percent last month from May, falling to a seasonally adjusted annual rate of 5.52 million, according to the National Association of Realtors. Meanwhile, sale prices jumped to $263,800, a 6.5 percent increase year-over-year, the Wall Street Journal reported.

Since March, when sales hit the highest level since 2007, sales of existing homes have remained pretty stagnant. At the end of last month, a 4.3-month supply of homes was on the market. At the same time last year, there was a 4.6-month supply available.

“The demand for buying a home is as strong as it has been since before the Great Recession. Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines, NAR Chief Economist Lawrence Yun told the Journal.

The NAR study found that foreign buyers were responsible for some of the uptick in demand. Foreign buyers and recent immigrants bought $153 billion worth of residential property in the year that ended in March, up close to 50 percent. Canadians were responsible for $19 billion of that total, the report found. [WSJ] — Kathryn Brenzel 

Homebuyers warned not to sleep on deals as Dayton market remains hot

Homebuyers in the Miami Valley are being warned “if you sleep on it, you may not sleep in it” as the real estate market continues to stay hot for sellers as the inventory of available homes remains low.

June set all-time records for both the numbers of homes sold and the average sale price in the Dayton area, the Dayton Area Board of Realtors reported Monday.

Sales of single-family and condominium units reported by the board in June totaled 1,690, a 0.66 percent increase over June 2016 sales — a minor bump up, but still enough to claim the mantle of the highest number of sales in a single month, the board said.

RELATED: Hot home market in Dayton area leaves sellers in charge

The average price of a home sold in June was $168,771 and a median price was $144,500, which represented increases of 4.5 percent and 5.4 percent, respectively.

June’s showing capped a first half of 2017 which saw 7,757 home sales, a three percent increased from 2016 during the same time period., the board said.

Typically, the highest average sales months have almost always been in June or July, according to Bob Jones of the DABR. (In one year, 2012, the peak month was August.) Summer months usually are the busiest sales months, he said.

Karen O’Grady, president of the Dayton board and a Realtor with Coldwell Banker, said the pressure is on for home shoppers. The inventory of available homes is comparatively low, so would-be buyers are forced to move to close on the house they want.

It appears that the prime selling season for homes will be extended this year, O’Grady said. Usually the prime season lasts until the new school year starts. Now, O’Grady isn’t certain. The season should “definitely” persist through next month and potentially through September, he said.

“I just had some buyers this weekend who were rush, rush rush,” she said, referring to a Missouri couple with three kids, who she said looked at about 35 homes in a few days, from Springboro to Oakwood.

July could very well present new records, O’Grady said.

In May, 1,626 homes and condos were sold, itself the top performance for May since at least 2012, the Dayton Area Board of Realtors said.

“Things seem to be continuing in that upward trend,” Jones said.

Nationally, a different picture emerges.

U.S. home re-sale volumes fell more than expected last month as a lack of properties pushed house prices to a record peak. The National Association of Realtors said Monday that existing home sales dropped 1.8 percent to a seasonally adjusted annual rate of 5.52 million units last month.

Nationally, sales were up 0.7 percent from June 2016.

The number of homes on the market slipped 0.5 percent in June to 1.96 million units. Supply was down about 7 percent from a year ago, the national organization said.


By the Numbers

Dayton-area homes sales in June

$168,771: Average price, up 4.5 percent compared to June 2016

$144,500,: Median price, up 5.4 percent compared to June 2016

1,690: Dayton-area homes and condos sold, up 0.66 percent compared to June 2016

10.2: Percent, the volume increase in homes sold so far from January to June, compared to the same period last year.

Source: Dayton Area Board of Realtors

June home-sales reports show mixed results in Ohio, across the country

CLEVELAND, Ohio — The Buckeye State eked out narrow home-sales gains in June, when compared with a year before. And sales of previously owned homes generally were up across the Midwest last month, even as the rest of the country faltered.

But the pace of Ohio and nationwide sales slipped from May to June, as buyers kept struggling to find properties amid a listings shortage and climbing prices sidelined some potential purchasers. A pair of reports released Monday portrayed a mixed picture of the housing market at the mid-point of 2017.

“It’s shaping up to be another year of below-average sales to first-time buyers despite a healthy economy that continues to create jobs,” Lawrence Yun, chief economist for the National Association of Realtors, said in a written statement. “Worsening supply and affordability conditions in many markets have unfortunately put a temporary hold on many aspiring buyers’ dreams of owning a home this year.”

The national trade group tracks sales of previously owned homes. The organization’s June report showed that sales fell 1.8 percent from May to June, based on seasonally adjusted, annualized figures. Sales were up 0.7 percent from a year before.

In the Midwest, where prices generally are lower than they are on the coasts, sales were up 3.1 percent from May to June and flat when compared with a year before.

The Ohio Association of Realtors said Monday that June sales were down 3.2 percent from May to June but rose 0.6 percent from a year ago. Those numbers, also based on seasonally adjusted data, span new and previously owned houses and condos. So they’re not directly comparable to the national figures.

In Northeast Ohio, home sales finally drew even with last year’s levels in June, after lagging during the first five months of the year, according to a recent report from the Northern Ohio Regional Multiple Listing Service.

Pete Kopf, the statewide trade group’s president, said Ohio reported “a solid level of sales activity and steady, modest growth in pricing” during the first half of the year.

In a blog post on the organization’s website, Kopf echoed agents’ frequent pleas for listings.

The real estate industry has been grappling with tight supply for more than two years, and the shortage seems to create a logjam. First-time buyers can’t find the houses they want at prices they can afford. And some homeowners are reluctant to put their properties up for sale because they’re worried they won’t be able to find another place to purchase.

“There are about as many homes for sale now as there were in 1994, except there are about 63 million more people in this country now than there were then,” Svenja Gudell, chief economist for real estate data company Zillow, wrote in an emailed response to Monday’s national housing report.

“The fact that demand is so high is, actually, a good sign of economic health,” she added. “Employers continue to add jobs, wages are growing at a decent pace and low mortgage-interest rates are keeping homes relatively affordable even as prices rise. But that’s probably small comfort to buyers, especially first-time buyers that are having an especially difficult time finding entry-level homes for sale and that won’t get any help from low interest rates as they try to save for a down payment.”

Across the country, the median – or middle – sale price for a previously owned home was $263,800 in June, up 6.5 percent from a year before.

Ohio real estate groups report average prices instead of medians. The average sale price for a new or existing home was $185,742 last month, for a 4 percent annual gain. Across 18 counties in Northeast Ohio, the average sale price for a house was $175,474. Condos sold for an average of $142,847, based on listing-service records.

US existing home sales stumble as prices hit record high

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A realtor speaks with a potential homebuyer during an open house in Arcadia, California.


U.S. home resales volumes fell more than expected in June as a dearth of properties pushed
house prices to a record high.

The National Association of Realtors said on Monday existing home sales dropped 1.8 percent to a seasonally adjusted annual rate of 5.52 million units last month.

May’s sales pace was unrevised at 5.62 million units. Economists polled by Reuters had forecast sales falling 1 percent to a 5.58 million-unit rate.

Sales were up 0.7 percent from June 2016.

An acute shortage of properties has hampered monthly sales. The shortage of properties has led to bidding wars, which have culminated in house price increases outpacing wage gains.

Last month, the number of homes on the market slipped 0.5 percent to 1.96 million units. Supply was down 7.1 percent from a year ago. Housing inventory has dropped for 25 straight months
on a year-on-year basis.

As a result, the median house price jumped 6.5 percent from a year ago to an all-time high of $263,800 in June. It was the 64th straight month of year-on-year price increases.

The PHLX index of housing stocks fell, underperforming a broadly weaker U.S. stock market. Prices for U.S. Treasuries bonds slipped while the U.S. dollar rose slightly against a basket of currencies after the data was published.

Homebuilders are struggling to plug the inventory gap amid rising costs of lumber. Homebuilding is also being constrained by shortages of labor and land.

A report last week showed housing starts rebounding 8.3 percent to a 1.22 million-unit pace in June, but still below their historic average of 1.5 million units, a rate realtors say would eliminate the housing shortage.

The two reports suggest that housing subtracted from gross domestic product in the second quarter after contributing almost half a percentage point to the economy’s annualized 1.4 percent growth pace in the first three months of the year.

Last month, sales fell in the Northeast, West and South regions, but rose in the Midwest. At June’s sales pace, it would take 4.3 months to clear the stock of houses on the market, up
from 4.2 months in May. A six-month supply is viewed as a healthy balance between supply and demand.

Houses typically stayed on the market for 28 days last month, down from 34 days a year ago. Houses spent fewer days on the market in Seattle, Salt Lake City, San Jose, San Francisco
and Denver.

Demand for housing is being driven by a tight labor market, marked by a 4.4 percent unemployment rate, which is boosting employment opportunities for young Americans. But the tight labor market has not spurred faster wage growth.

Annual wage growth has struggled to break above 2.5 percent, sidelining first-time home buyers, whose share of home sales has barely shifted. They accounted for 32 percent of transactions last month, well below the 40 percent share that economists and realtors say is needed for a robust housing market.

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NAR Endorses Flood Insurance Legislation Following … – RISMedia

The National Association of REALTORS® (NAR) is announcing its support for the 21st Century Flood Reform Act following improvements to the legislation, namely the preservation of a “grandfathering” provision that protects homeowners from rate increases when flood maps change. The legislation in prior drafts called for the elimination of the grandfathering provision in 2021, as well as exorbitant rate increases.

NAR issued the following statement from President Bill Brown:

“House Financial Services Committee Chairman Jeb Hensarling (R-Texas), as well as Subcommittee on Housing and Insurance Chairman Sean Duffy (R-Wis.), deserve high praise for working with REALTORS® to improve this legislation. The changes to the 21st Century Flood Reform Act will help give certainty to homeowners who have brought their property to code and have done their part to protect it against flood risk. It’s a fair and reasonable approach that recognizes the need for accessible, affordable flood insurance, while taking us one step closer towards reauthorization.

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“This legislation protects taxpayers, as well as homeowners, which is no easy task. The September 30 reauthorization deadline still looms in front of us, and REALTORS® are eager to see this legislation progress quickly. Leaders on both sides of the aisle are well aware that this issue touches 22,000 communities, in every state, both coastal and inland. We’re grateful for the Committee’s support and look forward to their continued efforts on behalf of homeowners.”

For more information, please visit www.nar.realtor.

For the latest real estate news and trends, bookmark RISMedia.com.

Montgomery County real estate briefs: Week of July 23

Jessica Mendez joins Berkshire Hathaway

Sue Walsh and Patrick Gallagher, co-sales leaders of Berkshire Hathaway HomeServices Fox Roach, Realtors Chestnut Hill office, welcome Jessica Mendez as a sales associate.

She has been licensed since 2003 and has a background in finance. She resides in Philadelphia and serves the Greater Philadelphia area.

Mendez can be contacted at 215-242-3394 or by emailing jessica.mendez@foxroach.com.

Re/Max Realtor earns top recognition

Re/Max Services agent Richard McIlhenny was the recipient of Re/Max Pennsylvania and Delaware Region’s Top 25 Individual Sales Associates for May. He ranked No. 11.

McIlhenny was named among Real Estate Executive’s 100 Most Influential Real Estate Agents in Pennsylvania. In July 2016, McIlhenny received the Philly.com Reader’s Choice Award as Best Real Estate Agent in Philadelphia for the second consecutive year. He is the recipient of numerous other awards including a 2014 Best of Trulia Award Winner — top 1 percent based on sales and client reviews; a 2016, 2015, 2014, 2013, 2012, 2011 and 2010 Philadelphia Magazine 5 Star Agent Award winner; and a 2014, 2013, 2012 and 2011 Top 25 Producer, Re/Max-Services Pennsylvania and Delaware Region.

“Richard has successfully ranked in the Top 25 for many years, and his achievement is a true reflection on his knowledge of the industry and excellent customer service,” said Bob Acuff, president and co-founder of Re/Max Services in Blue Bell. “He is a real inspiration to all of our sales associates in the region.”

Realtors with Re/Max Services in Blue Bell are members of the Montgomery County Association of Realtors, the Pennsylvania Association of Realtors and the National Association of Realtors.

To contact Rich McIlhenny, call 215-275-6303 or 215-641-2500 or email Rmac88@aol.com.

Berkshire Hathaway associates receive sales performance awards

Berkshire Hathaway HomeServices Fox Roach, Realtors recently honored sales associates for their sales performance for 2016, placing them in the top 20 percent of agents in the national BHHS network, with a Sales Performance Award.

Sales associates honored include Melissa Embrey, Sue Kinslow, Lorraine McKee, Deborah Mignogna and Bridget O’Donnell, of the Blue Bell office; Carolyn Cotton, Anna Cooke Woodward and David Morasco, of the Chestnut Hill office; Bruce Lyster, Bob Minnis and Leslie Myer, of the Collegeville office; and Mary Ann Bowler, Jill Stumpf and Oriel Zach, of the Jenkintown Home Marketing Center.

Local Realtors attend Washington meetings

On behalf of current and future home and property owners throughout the country, more than 9,600 Realtors traveled to Washington, D.C., May 15-20 to advance key real estate issues during the 2017 Realtor Legislative Meetings Trade Expo.

Konnie Krahn-Prosence, chair of the Glenwood Springs Association of Realtors (GSAR) and broker associate with Vicki Lee Green Realtors; Shannon Kyle, GSAR chair-elect and managing broker with CherylCo. Real Estate; and Cheryl Burns, GSAR CEO joined fellow Realtors and staff executives from Colorado and across the nation to attend meetings and informational sessions, as well as meet with regulatory agency staff and lawmakers on Capitol Hill to discuss and advocate real estate issues affecting their businesses, communities and clients.

Attending Realtors, members of the National Association of Realtors, focused on several significant issues affecting the industry during the legislative-focused meetings, including flood insurance, tax reform and sustainable homeownership.

“Realtors are critical advocates for the real estate industry and for their clients, and this meeting is the perfect opportunity to educate ourselves on the issues facing real estate markets, as well as the legislative and regulatory issues on the horizon that could affect Realtors, home buyers and sellers, and property owners,” said Krahn-Prosence.

While in Washington, Krahn-Prosence, Kyle and Burns met with Sens. Cory Gardner and Michael Bennet, and Rep. Scott Tipton on Capitol Hill to discuss and influence public policy decisions that directly affect consumers’ ability to own, buy, rent and sell residential and commercial real estate.

“As the leading advocates for real estate, it is important for Realtors to meet face to face with our nation’s representatives to make sure homeownership and commercial real estate remains top of mind, since these help to shape our communities and play crucial roles in the economic health of America,” said Krahn-Prosence.

When speaking with Sens. Gardner and Bennet, and Rep. Tipton, one of the main issues discussed was the urgent need to pass a multiyear reauthorization of the National Flood Insurance Program before it expires on Sept. 30. Additionally, Realtors urged the protection of sustainable homeownership by advocating for responsible reform of the secondary mortgage market, prohibiting the use of guarantee fees for any purposes other than credit-risk management, improving consumer protections for energy-efficiency improvement loans and tax reform.

“With tax reform currently being discussed by the administration and legislators, it is important for regulators to hear from Realtors that while tax reform is necessary, it cannot come at the expense of real estate tax provisions, such as the mortgage interest deduction, which are essential to the housing market and a key driver of the economy,” said Krahn-Prosence.

During the meetings, attendees also heard from industry experts and leaders, including Secretary of Housing and Urban Development Dr. Ben Carson, who spoke about the challenges facing potential homebuyers, including low home inventories and tight mortgage credit.

During the meeting, Carson confirmed that HUD is in “lock-step” with Realtors about an NAR-backed rule that would make it easier for consumers to buy a condominium with Federal Housing Administration backed financing, which has been pending since September 2016. Carson agreed that this rule would “make a big difference to a lot of Americans.”

In addition, attendees heard from Fox News’ Chris Wallace and CNBC’s Ron Insana, who shared their insights on the administration’s agenda and other legislative and regulatory happenings in Washington; Mark Calabria, chief economist to Vice President Mike Pence, who said reversing weak productivity and the low labor force participation rate are necessary to boosting the economy; John Worth, senior vice president for Research and Investor Outreach, National Association of Real Estate Investment Trusts, who shared his perspectives on commercial market activity; Roy Wright, deputy associate administrator for Insurance and Mitigation at the Federal Emergency Management Administration, who said that challenges remain in ensuring access to affordable flood insurance and a multi-year reauthorization of the NFIP is critical; and NAR Chief Economist Lawrence Yun, who shared residential and commercial real estate market updates and forecasts for the remainder of 2017.

During the week, Realtors also participated in a series of on-site visits with regulatory agency staff at the Federal Aviation Administration, Federal Emergency Management Agency, U.S. Department of Treasury and the U.S. Department of Veterans Affairs.

In addition to the informational legislative sessions and meetings with legislators, attendees had the opportunity to explore the latest industry innovations and receive up-to-date information on the newest products and services from more than 100 industry-leading companies that participated during the trade expo.

PACs helping Senate candidates

The three main rivals for a U.S. Senate seat from Indiana are collectingcampaign funds from some of the same sources.

At least a dozen political action committees each contributed money to the campaigns of Sen. Joe Donnelly, D-Ind., and Reps. Luke Messer, R-6th, and Todd Rokita, R-4th,during the second quarter of this year.

Neither Messer nor Rokita has formally announced his candidacy. But they haveassembled statewide campaign finance organizations and aresnipingat each other as if the May 2018 Republican primary election were just around the corner.

Rokita announced last week that he had “massively outraised potential Senate primary opponent Luke Messer by nearly $500,000” during the second quarterand that Messer “was largely reliant on money from political action committees in Washington.”

Messer did not publicly respond to Rokita on that butsaid in an email to supporters that Rokita “has spread lies and half-truths about my family”– prompting Rokita to send an email saying hehad done nothing of the kind. Thedispute stems fromAssociated Press reports in May on Messer’s wife’s earnings for legal consulting she has donefor the city of Fishers.

Rokita raised $1.04 million in the second quarter, with $246,000 coming from PACs and the rest from individual donors. Messer raised more than $578,000 during that period, with roughly $348,000 of it from PACs.

By comparison, Donnelly raised $1.34 million during the quarter, with more than $559,000 from PACs.

The campaign finance reports filed with the Federal Election Commission show allthree lawmakers received contributions from PACs representing medical companies Roche, Batesville-based Hill-Rom Holdingsand Warsaw-based Zimmer Biomet, and defense contractors Lockheed Martin and Raytheon Corp., which has a plant in Fort Wayne.

Other common contributors included PACs for Delta Air Lines, State Farm Insurance, Navient, the American Soybean Association, the National Apartment Association, the Advanced Medical Technology Association and the National Association of Realtors.

Someof those PACS have spread money far and wide.The Realtors group contributednearly $4 millionto hundreds of federal candidates of both parties during the 2015-16 election cycle, the largest amount spent by any PAC, according to the non-partisan Center for Responsive Politics. Lockheed Martin was the eighth-largest contributor to candidates, at $2.5 million.

Zimmer Biomet, on the other hand, gave$75,000 in 2015-16 to 33 federal candidates, including 10 from Indiana.

A PAC may contribute as much as $5,000 per election to a federal candidate, according to campaign finance law.

Individual donors from the Fort Wayne areaare evenly divided betweenMesser and Rokita. Nine people from the region gave a combined$16,400 to Rokita in the second quarter, and nine people donated a combined $15,000 to Messer. An individual may give as much as $2,700 per election to a federal candidate.

Messer’s donors included Fort Wayne auto dealer Thomas Kelley, Fort Wayne banker James Marcuccilli, state Senate President Pro Tem David Long, R-Fort Wayne, and Warsaw duck producer Terry Tucker.

Rokita’s contributors included Fort Wayne musical equipment seller Charles Surack, restaurant owner Peter Eshelman of Columbia City, Auburn entrepreneurDaryle Doden and Columbia City resident Byron Lamm,co-founder of the Indiana Policy Review Foundation.

Rokita last week named Lamm, Doden, Eshelman and Warsaw medical device producer Nick Deeter to his 60-member campaign finance team. In March, Messer announced the formation of a 43-member campaign finance team that includesFort Wayne real estate developer Bill Bean and former state senator Tom Wyss of Fort Wayne.

For the election cycle to date, Rokita, a resident of Brownsburg, has raised $1.37million and has $2.35million in cash. Messer, of Greensburg, has raised $1.5million and has nearly $2.03 million in cash. Their cash includes money left over from previous House campaigns.

Donnelly, a former House member from Granger who was elected to the Senate in 2012, has raised $5.4 million and has almost $3.7 million in cash. During the second quarter, he raised roughly $8,700 from 14 residents of the Fort Wayne area. They included Cindy Henry, wife of Fort Wayne Mayor Tom Henry; the mayor’s brother, venture capitalistJerome Henry of Fort Wayne; attorney Timothy Pape of Fort Wayne; and attorney John Whiteleather of Columbia City.

Three Republicans have announced they will run for Donnelly’s seat– Hamilton County businessman Terry Henderson, New Albany college administrator Andrew Takami and Kokomo attorney Mark Hurt.Henderson has reported raising nearly $267,000, including a $250,000 loan to himself, and he has almost $263,000 in cash; Takami has raised more than $114,000 and has $72,000 in cash; and Hurt has raised $75,000, including an $18,000 loan from himself, and has less than $11,000 in cash.

Freshman Republican U.S. Rep. Jim Banks of Columbia City has raised more than $291,000 and has nearly $205,000 in cash on hand to defend his House seat in northeast Indiana’s 3rd Congressional District.

Fort Wayne marketing consultant Courtney Tritch, who seeksthe Democratic nomination in the 3rd District, has raised more than $12,000 and has almost$11,000 in cash since launching her campaign in June. David Roach and Tommy Schrader, both of Fort Wayne, have announced they will seek the 3rd District Democratic nomination but have not filed campaign finance reports.Candidates must submit such reports if they raise or spend at least $5,000.

bfrancisco@jg.net