This Realtor Magazine article outlines the top ten cities that appear ready for a rebound from the slow market we have been experiencing. Indianapolis is second on the list, after Dallas/Ft.Worth. This is all based on projected median sales prices, I hope their projections become our reality!
** Update 10/1** I found this CNNMoney.com article that says basically the same thing. I bet the Realtor Magazing info was taken from this, but it explains in greater detail why Indianapolis should be able to bounce back quickly from the current market lows.