Mon. 5:06pm: Trumbull home sales dip for third month
WARREN – Although jobless rates continue to improve, Trumbull County Realtors are seeing struggling home sales, with May’s home sales dipping more than 4 percent compared to sales last year at this time.
Mahoning County, meanwhile, shows a continued improvement, this time by 21 percent over this time last year, according to numbers released today by the Youngstown-Columbiana Realtors Association and the Warren Area Board of Realtors.
Home buyers in Trumbull County closed on 161 homes in May, down 4.2 percent from the 168 buyers purchased in May 2012. By contrast, Mahoning County home buyers closed on 236 homes, up 21 percent from the 195 sold in May 2012. Trumbull County’s decline in home sales was at least the third consecutive month that the numbers dropped.
And while the number of homes on the market in both counties remains down significantly, the president of the Warren Area Board of Realtors doesn’t think inventory is solely to blame.
“The inventory is low, but I think really it’s employment,” said Warren Area Board of Realtors president Marlin L. Palich.
Read the complete story in Tuesday’s Tribune Chronicle and at tribtoday.com.