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Economy and Business

Ohio housing sales shoot up. But prices? Not so much
Still realtors says the trajectory is what counts

Simon Husted
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In The Region:

Home sales in Ohio are climbing significantly, while prices are starting to inch up as well.

Ohioans bought and sold nearly 13 percent more homes in the first seven months this year than during the same period last year, according the July report from Realtors. The average home price, however, grew by only 4 percent.

Richard Perrin is with Knox County Realty Association in central Ohio. He says although homes prices aren’t making jumps, it is important that the growth is at least steady.

The pattern matters

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“That’s a positive sign because you have to level out before you start climbing,” Perrin says. “I think we are on the uptick; we are climbing so it is positive. It’s not roaring [like before] by any means as of yet, but it’s certainly a positive indication that we’re moving more units and that we have had a little bit of an up tick in medium price sold.” 

Among the few housing markets in Ohio that had double-digit increases in average home prices were Summit Geauga, Trumbull, Lorain and Carroll counties. Though still one of the smallest counties in the state, Carroll has seen a bit of a building surge tied to the boom in the natural gas industry.

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