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Economy and Business


Housing agreements have increased for the 17th month in a row
Reasonable prices and low interest rates are enticing more people to buy buy houses
by WKSU's OZIE IKUENOBE

Reporter
Ozie Ikuenobe
 

The Ohio Association of Realtors says sales agreements for single-family homes and condominiums are on the upswing for the 17th straight month.

Contracts rose more than 12 percent in September over the same month a year ago.

Ali Whitley, president of the Board of Realtors for the Akron area, says low interest rates have been encouraging people to buy houses, and the number of contracts isn’t the only good sign.

Whitley on the housing market

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“We’re seeing a slight decline with days on market for homes that are currently listed. So that’s also a nice thing for sellers. But the opportunity is absolutely there for buyers because coupled with the reasonable prices and the interest rates, there’s really never been a better time to just go ahead and purchase.”

But Ohio still has one of the highest foreclosure rates in the country, according to RealtyTrac. Of every 546 homes in the state, one is in foreclosure.

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