WARREN - Ohio home sales increased 23.6 percent in November, helping the marketplace record its 17th consecutive monthly sales gain, according to the statistics provided by the state's Multiple Listing Services.
Sales of new and existing homes have posted a 14 percent increase during the first 11 months of 2012 compared with the same period a year ago, reaching 104,001 sales versus the 2011 mark of 91,213.
"The Ohio housing market is continuing to make significant progress in its attempt to fully recover from the economic downturn of a few years ago," said Robert U. Miller, president of the Ohio Association of Realtors.
Miller noted that the Association began tracking sales data in 1998 and the current stretch of 17 straight monthly gains is the longest uninterrupted period of sales growth the Ohio market has ever recorded.
Across the Buckeye State we're building a solid foundation for a sustainable, growing housing marketplace going forward," he said. "Ohio Realtors continue to be extremely confident about the prospects for our market, as interest rates remain at historic lows, prices have begun to trend upward, inventories are declining, sellers are increasingly realistic in their pricing expectations and consumers understand that long-term, owning a home is a tremendous investment."
Not only have sales levels during the first 11 months exceeded the pace of a year ago, the average sales price (January through November) throughout Ohio this year is up 5.1 percent, reaching $135,460 versus the 2011 mark of $128,540.
Total dollar volume this year is nearly $14.1 billion, a 20.2 percent increase from last year's 11-month mark of $11.7 billion.
Miller noted that a recent survey of the state's real estate professionals suggests the industry remains cautiously optimistic about the market's outlook in the coming months.