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 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). […]
Inventory levels are creeping up Central Ohio housing inventory continued to increase during the month of July to 5,498, an 8.3% increase over June, although still down 14.1% from July 2016. This left central Ohio with a 2.0 months supply of inventory at the current sales pace, according to the Columbus REALTORS® Multiple Listing Service. […]
Home prices setting records in central Ohio Across the nation existing-home sales bloomed in May, with the median days on market at a new low and the median sales price at a new high. The job market in most of the country is healthy and the recent downward trend in mortgage rates continues to keep […]
Central Ohio home prices rising The median list price of new listings for central Ohio homes and condos during the month of April was $199,950, an 8.1 percent increase over April 2016 and a 1.0% increase from March. This is a new record high according to the Columbus REALTORS® Multiple Listing Service. Prospective buyers poured […]
Homes continue to sell quickly There were 2,531 central Ohio homes and condos sold during the month of March, a solid 50.8% increase over February and a 3.9% increase over the same month a year ago. This was the highest number of home sales on record for the month of March as well as the […]
As spring approaches consumers are starting to plan for 2017, especially if they want to buy or sell a home. We regularly ask our clients about their home-buying or -selling journey, what motivates them—and what’s holding them back. This time of year, our pool of prospective sellers largely shifts towards those who are just starting their research but […]
Housing inventory drops further in February There were 2,528 central Ohio homes and condos added to the market in February, which is a 16.5% increase over January, although a 3.6% dip from February last year. This leaves inventory at 4,286, which is a whopping 21.1% decrease from the same month last year according to the […]
We need more houses. It’s going to take a long time until we have enough. Check out what happened during and after the housing bust that began in 2008: Single-family house construction cratered. House completions have recovered a bit since 2011, but they’re barely above the depths of the 1982 recession. Single-family home construction is […]
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