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May House Sales Off 3.2% in Ohio from Year Ago
COLUMBUS, Ohio -- Sales of houses statewide were down 3.2% in May from a year earlier, the Ohio Association of Realtors reported today. May’s unit sales itotaled 12,406, down from 12,814, according to the monthly report. May’s sales were up 17.7% in Ohio from the 10,538 in April.
Year-to-date, 45,914 houses have been sold statewide, compared with 48,764 during the first five months of 2013.
A total of 3,765 units were sold during May in the area covered by the Northeast Ohio Real Estate Exchange, which includes Mahoning, Trumbull and Columbiana counties, the association reported. That is down 6% from the 4,004 units sold in May 2013. Year-to-date, 14,259 houses were sold in the 17-county region NEOHREX covers, down from 14,735 from January through May last year.
The association is projecting 119,400 units sold in 2014, based on data year to date. Last year, 129,108 units were sold, up from 112,449 in 2012.
“The Ohio housing marketplace is continuing to exhibit resiliency, as the increase in activity levels in May provides positive momentum for the spring home buying season,” said Chris Hall, OAR president, in a prepared statement. “Equally important, statewide our average sales price is maintaining positive, steady growth. We are making progress in establishing a solid, stable foundation for the long-term prospects for the state’s housing sector.”
May’s average home price of $152,612 reflects a 2.9% increase from the $148,365 mark posted during the month last year.
Around the state, half of the 20 markets tracked reported increases in sales activity levels during the month. All but five local markets showed an increase in average sale prices.
SOURCE: Ohio Association of Realtors.
Published by The Business Journal, Youngstown, Ohio.
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