Central Ohio home sales finish three-month slip in November

Central Ohio home sales inched adult in November, finale a three-month skid, according to total expelled by a Columbus Realtors trade group.

During a month, 2,392 Columbus-area homes altered hands, adult 0.6% from a year ago.

Home prices continued to climb, with executive Ohio homes offered for a median of $189,900, adult 5.5% from a year ago. A necessity of homes for sale continues to lift adult prices, yet Realtors remarkable that a series of owners who put their homes on a marketplace rose 5% from a year ago.

There were 2,207 homes listed for sale in November, a top series of new listings for Nov given 2012.

Columbus, Ohio

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“Inventory levels have been during record lows in new years, so a additional homes for sale has been a acquire change for internal buyers,” Columbus Realtors President Sara Walsh pronounced in a news release. “This plain housing demand, fueled by a flourishing economy and low unemployment, reinforces a health of a executive Ohio market.”

Central Ohio home sales by a initial 11 months of a year are 1.6% next a same duration in 2017, and are expected to dump even some-more in December.

“Given that tentative sales were down 8 percent final month, it’s doubtful that 2018 will lift ahead, in terms of home sales, by a finish of a year,” Walsh said.

Statewide, seasonally practiced home sales fell 1.3% from October, according to Ohio Realtors.

Nationally, home sales fell to a seasonally practiced annual rate of 5.32 million in November, adult 1.9% from Oct yet down 7% from a year ago, according to a National Association of Realtors.

“The marketplace conditions in Nov were mixed, with good signs of stabilizing home sales compared to new months, yet down significantly from one year ago. Rising register is clearly taming home cost appreciation,” Lawrence Yun, NAR’s arch economist, pronounced in a news release.

The median existent U.S. home cost in Nov was $257,700, 4.2% aloft than final year. First-time home buyers accounted for a third of Nov home sales.

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Article source: http://www.nationalmortgagenews.com/articles/central-ohio-home-sales-end-three-month-slide-in-november

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