Landlord Rights Are Being Stripped Away—Why the Latest Examples of Squatting Should Concern You
The media tends to side with tenants and take a negative view of landlords overall. One notable exception was an episode of HBO’s Silicon Valley, where the hapless Jared has tried […]
Market Madness: 10 College Markets That Are Great for Cash Flow
With the college sports season’s thrilling climax, this is also an exciting time for real estate investors who own rentals in college towns that are being given a high profile. […]
Dave Meyer will help you craft a personalized investment strategy based on your unique strengths and goals so you can become the star of your own investing journey.
Home sales remain strong, Inventory continues to balance.
The central Ohio housing market continues to stabilize as home sales are maintaining levels similar to last fall,
according to the Columbus Board of REALTORS®.
Locally, there were 1,824 homes sold in September, just 1.5 percent behind the 1,851 homes sold during
September 2007.
“The difference in sales of only a handful of homes demonstrates the stability of central Ohio’s market at a time
when many other markets nationwide are struggling,†says Greg Hrabcak, President of the Columbus Board of
REALTORS®.
“Sales are not as high as they were during the boom years but they are in keeping with pre-boom levels,†says Hrabcak.
“That, in and of itself, is really good news, because theoretically, we should be experiencing much lower sales to
compensate for the inflated numbers we saw back in 2004, 2005 and 2006.â€
Last month showed more positive news for home sellers as well. As fewer homes were added to the market in September than in August, the number of homes for sale continued to decrease. With 16,598 homes on the market in September, the area’s inventory was at its lowest point since February,
“The housing market follows the same basic principles of supply and demand, so as inventory continues to decline from what were record high numbers just a few years ago, sales prices will increase and central Ohio will again see a market that is balanced in favor of both buyers and sellers,†Hrabcak added.
The average sale price of a home in September was $160,755, down 4.5 percent year to date, but only 1.7 percent behind what the average home sold for last September.
Posted by Mike Parsons Parsons Real Estate Group
October 22, 2008 at 07:17 PM
Ohio has the second highest vacancy rate for residential units in the country, the population has been decreasing, and more jobs have been lost than created for several years running now. These factors weigh high on my mind as reasons not to invest there, of course I am open to hearing data that could defeat these hurdles.
Comments (2)
Home sales remain strong, Inventory continues to balance. The central Ohio housing market continues to stabilize as home sales are maintaining levels similar to last fall, according to the Columbus Board of REALTORS®. Locally, there were 1,824 homes sold in September, just 1.5 percent behind the 1,851 homes sold during September 2007. “The difference in sales of only a handful of homes demonstrates the stability of central Ohio’s market at a time when many other markets nationwide are struggling,†says Greg Hrabcak, President of the Columbus Board of REALTORS®. “Sales are not as high as they were during the boom years but they are in keeping with pre-boom levels,†says Hrabcak. “That, in and of itself, is really good news, because theoretically, we should be experiencing much lower sales to compensate for the inflated numbers we saw back in 2004, 2005 and 2006.†Last month showed more positive news for home sellers as well. As fewer homes were added to the market in September than in August, the number of homes for sale continued to decrease. With 16,598 homes on the market in September, the area’s inventory was at its lowest point since February, “The housing market follows the same basic principles of supply and demand, so as inventory continues to decline from what were record high numbers just a few years ago, sales prices will increase and central Ohio will again see a market that is balanced in favor of both buyers and sellers,†Hrabcak added. The average sale price of a home in September was $160,755, down 4.5 percent year to date, but only 1.7 percent behind what the average home sold for last September. Posted by Mike Parsons Parsons Real Estate Group October 22, 2008 at 07:17 PM
RJ Pepino, about 15 years ago
Ohio has the second highest vacancy rate for residential units in the country, the population has been decreasing, and more jobs have been lost than created for several years running now. These factors weigh high on my mind as reasons not to invest there, of course I am open to hearing data that could defeat these hurdles.
Will Barnard, over 15 years ago