Updated over 5 years ago on . Most recent reply
No slowing down the Columbus OH housing market
Just read this article in today's Columbus Dispatch. Economists are predicting that most US housing markets will begin to level off in the coming year, but Columbus is NOT one of them.
The article discusses how, "There are so many qualified buyers that they compete for homes, pushing up prices and pushing down inventory." The chief economist quoted in this article says that Columbus continues to remain one of the strongest housing markets because of its population and job growth along with its affordability, and adds that, “Columbus homes may seem expensive for people living here, but it’s very affordable compared to other markets...”
As a resident and investor, I found this article extremely encouraging, and if you are a RE professional in any capacity within this market, or if you're considering jumping into the Columbus market, you should be encouraged too. One could argue this is irrelevant to REI and speaks specifically to home buyers, but Columbus' lack of inventory and competition for housing says otherwise. "At the end of 2019, 3,886 central Ohio homes were on the market, half the number of listings just four years earlier." There is clearly a housing shortage in the midst of year over year population growth. And if you can't buy, you've got to rent!
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Some people notified me that the link in my last post didn't work. Try this, Central Ohio home prices expected to continue climbing.