Categorized | Residential

Ohio Housing Market Sees Strong Gains in August

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In what real estate experts and analysts in Ohio hope is the start of a strong trend in housing sales, the Ohio residential real estate market experienced incredible gains during the month of August. Housing sales in the state increased by over twenty percent, which makes the second straight month of increased sales. It is the first time that the housing market in the state has had back-to-back monthly increases in over a year.

Over ten thousand sales were reported during the month of August in the state of Ohio. Although the average price fell roughly two percent, many real estate experts are incredibly hopeful that the most recent trend will continue for some months.

In fact, it is expected that the market will actually continue to improve over the next six months, despite fears of a global recession. Although the most recent news is definitely excellent for homeowners and real estate agents in the state of Ohio, it is important to note that the increases do not necessarily reflect a complete recovery in the state’s housing market.

Housing sales in 2011 still remain lower than they were at this point in the year in 2010. The average selling price is also more than three percent lower than it was last year.

With that being said, most real estate agents, and analysts are hopeful about the current state of the market. With numbers starting to once again improve, and mortgage rates continuing to fall to all-time lows, it is apparent that it is an ideal time to buy a home.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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