Inventory shortages continue to help home prices break record highs, according to an analysis by Realtor.com®. “Never in history have there been more eyes on fewer homes than today,” says Javier Vivas, Realtor.com’s director of economic research. “The price gains observed in the last days of March tell us the market is on pace to see […]
Inventory declines yet again in February At the end of February, the number of homes and condos for sale was down to 3,376, which is just 0.1% lower than January and 21.2% less than February 2017. This marks the 85th consecutive month of year over year declines in inventory and left central Ohio with a […]
After years of speculation about mortgage interest rates, the Federal Reserve has begun increasing the Fed Funds Rate. The Fed Funds rate sets the cost of borrowing for the banks, and consequently the cost of mortgages for homebuyers. With additional moves at hand, there is concern that more expensive mortgage rates could hamper the housing […]
Central Ohio Housing Inventory at Record Lows Central Ohio housing inventory continued to decrease during the month of January to 3,410, which is 12% below December and 21.2% less than January 2017. This left central Ohio with a 1.2 months supply of inventory at the current sales pace and the 84th consecutive month of year […]
2017 was the Hottest Housing Market in History for Central Ohio There were 32,218 homes and condos sold in central Ohio in 2017, which is 1.7% higher than 2016 and the highest number of homes sold on record for a single year, according to the Columbus REALTORS® Multiple Listing Service. 2017 also saw record high […]
Central Ohio home sales still trending up There were 2,377 homes and condos sold during the month of November in central Ohio, which represents a 3.2% increase over the same month a year ago, but a decline of 13.9% from October. This is the highest number of sales on record for the month of November, […]
Almost every major US housing market is plagued by short supply. In fact, inventory nationally for pre-owned properties is at 3.9 months, down 10.4% from last year, this according to the National Association of REALTORS® (NAR) in a recent report. The challenge, according to Realtor.com®, could moderate in the next year. Groundbreaking is projected to […]
The current growth in home prices is echoing the lead-up to ‘the great recession’. Is history repeating itself? The answer is likely not, according to a recently released realtor.com® report. Building is lacking in many markets—one hallmark 10 years ago was over-construction—and credit standards are more stringent, says Danielle Hale, chief economist of realtor.com. As […]
Central Ohio home sales hit record high in September Central Ohio saw record home sales in September, due in large part to the record number of homes added to the market in August. There were 2,869 central Ohio homes and condos sold during the month of September, an 8.3% increase over the previous year and […]
Homes are still selling quickly in central Ohio Homes spent an average of 27 days on the market during the month of August, which is one day less than July and eight days fewer than August 2016. This is yet another record low for central Ohio, according to the Columbus REALTORS® Multiple Listing Service (MLS). […]
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