There is good news for people trying to sell their homes in the Buckeye State, because Realtors say it’s once again a seller’s market.
Numbers show home sales in Ohio rose 15.5 percent in June. It’s the 24th consecutive month of growth in the housing market, which is the longest stretch of uninterrupted growth in 16 years.
Experts say home prices are also up in both average sale price and dollar volume. So even with the slight spike last month in interest rates, it’s still a great time to put a house on the market.
“People are starting to realize, once again, that home investment is still a safe, long term investment, safer than the stock market, and safer than other forms of investing your money,” said Alicia Kosec, manager of the Poland office of Howard Hanna Real Estate.
Kosec said the problem is there’s not enough supply to meet the demand for homes in certain local markets and neighborhoods. More than 13,000 homes were sold in Ohio last month, which is the best mark for June since 2007.
“We don’t have as much inventory. We don’t have as many listings for all the buyers that are looking. We have Realtors literally knocking on doors saying ‘do you want to sell your house?’ or calling people saying ‘do you want to sell your house, I have a buyer for it,'” she said.
Kosec said demand is especially high in certain markets and neighborhoods, such as Poland, Boardman and Canfield.