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Economy and Business


Ohio Realtors struggle to sell homes this winter season
State home sales dropped 5.6 percent due to the cold weather, ice and snow last month.
Story by AKILAH PORTER


 
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In The Region:

The Ohio Association of Realtors says home sales across the state dropped 5.1 percent in January from December.

It's the first drop in a year and a half.

Robert Vogt is a partner at Vogt Santer Insights, an Ohio real estate research firm in Columbus. He says the general economic downturn has affected homes sales.  But he believes that this winter also played a significant role.

Hear more on Ohio Realtors struggling to sell homes this winter season.

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“January is such a tough time to really formulate a trend just because you have such little amount of data to look at and we have such obvious problems in terms of what we’ve been through with the weather that it’s hard to judge that these numbers are going to show a trend into the spring,” Vogt said.

Vogt says it isn’t unusual for the state to experience a drop in home sales during this time of year and that Realtors can expect to see a change during late spring and mid-summer months, typically before schools go back in session.

Ohio has also seen a 5.6 percent increase in average home prices.


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