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Economy and Business

Realtors say Ohio's housing market continues to improve
Both the number of homes and average sale price increased in February

Grant Engle
In The Region:

A new report says Ohio’s housing market is trending upward, as the average number of homes sold has risen for the 20th consecutive month.

The Ohio Association of Realtors says the combination of a better economy, lower interest rates on mortgages and improved consumer confidence have contributed to the trend.

The report says the average sale price has also increased by nearly 15 percent over the same month last year last year.

Carl DeMusz is a spokesman for the Northeast Ohio Real Estate Exchange. He says the jump in the prices is because more people are buying, and the market is more competitive.

Carl DeMusz of the Ohio Association of Realtors

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“If all other indicators were better right now, such as more employment and better economic situations, I think that this market would be on fire because of these low interest rates.”

The 20 consecutive months of growth in home sales is the longest stretch of improvement since the Realtors association started keeping records in 1998.

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