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 […]
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 […]
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 […]
Central Ohio Home Sales Continue to Dramatically Outpace Prior Years There were 3,091 central Ohio homes and condos sold during the month of May, a 15.7% jump over April and a 2.4% increase over May 2015. Year-to-date sales (January through May) were 11,464 which is the highest on record for the first five months of […]
Inventory finally inching up in central Ohio Central Ohio housing inventory finally began inching up during the month of April, with the total inventory coming in at 5,361. This is a 1.2% increase over the previous month, though still down 23.4% from April 2015. There were 3,910 central Ohio homes and condos added to the […]
We may be on the verge of spring, but housing and economic reports work on a bit of a lag time. We’ve only just gotten the major data reports for January and February, and it’s giving us a clear-eyed view of how the real estate market is measuring up this year. And yeah, things are looking […]
February Saw Record Highs and Lows for the Central Ohio Housing Market There were 1,610 central Ohio homes and condos sold in February, up 6.0% from the previous month, up 4.7% rise from one year ago, and a record high for the month. January home sales also set a record high and sales for the first […]
Home values are increasing and that should be a huge incentive for homeowners (including homebuilders) to put houses on the market. But that’s not happening and low inventory levels are leaving homebuyers competing for properties which in turn is driving up home values. U.S. home prices rose 5.4% in December, the largest year-over-year gain since July 2014. The median sales […]
Home buyer demographics and buying behavior change slightly from year to year due to macroeconomic factors ranging from the health of the economy to inflation to the global trade on oil prices. The National Association of REALTORS® recently released its 2015 Profile of Home Buyers and Sellers report and there are some interesting new trends emerging this […]
Central Ohio housing market shattered records in July The Central OH housing market continued it’s stellar performance in July once again setting new records for the volume of home sales, prices and the time to sell a home. The 3,208 home sales last month were up 1.9% over the previous month and up 11.7% from July of 2014. This also […]
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