© 2021 WYSO
Our Community. Our Nation. Our World.
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
News

Home Sales in July Positive Indicator for Ohio's Economy

Home sales in Ohio moved up for the 25th straight month and that’s seen by some as a positive indicator for the state’s economy.  

In July more than 13,ooo homes sold; a 25.8 percent increase over sales reported a year ago at that time, and July’s highest sales figures since 2005.

The Ohio Association of REALTORS says these numbers from a preliminary report indicate the “longest stretch of uninterrupted growth in 16 years of tracking Ohio home sales” – and they see that as an outgrowth of rising consumer confidence and believe people are once again looking at home buying as “a solid, long-term investment.”

Carl Horst with the Cincinnati Area Board of Realtors says “Housing is an important part of what takes place, either leading us in a recession or hopefully bringing us out, and what we’ve seen is pretty steady, consistent progress in making and effort to overcome the challenges we saw a few years ago.

Home sales in Ohio through the first seven months of 2013 reached 74,666, a 17 and a half percent increase over the same period a year ago.

Sale prices got a bump too as the average home price jumped 7.2 percent above July 2012 pricing to an average of about $157,000

The average sales price for the first 7 months this year this year was more than $142,000, a 6.7 percent increase over the mark set during the period a year ago.

And total dollar volume in home sales this year in Ohio - nearly $10.7 billion.