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Economy

Ohio Realtors Expect the Sellers' Market To Continue

For sale sign
WKSU
Although home sales have been climbing in Ohio for the past year, Karen O'Donnell with the Akron Cleveland Association of Realtors says the numbers may dip as the weather warms up and more properties become available.

March home sale figures for Ohio will be released Monday and regardless of whether the number is higher than the month before, realtors are expecting the current sellers' market to continue.

When it comes to real estate, the market typically goes in cycles. Just ask Karen O'Donnell, president of the Akron Cleveland Association of Realtors.

“It goes down, it comes up, it goes down, it comes up.”

And yet, for the past year, home prices have pretty much only gone up. What gives?

O'Donnell figures some sellers may have been waiting to see how the new GOP tax law would play out. Others may be holding off selling to see just how high the market will go. Her advice to homeowners?

“If you have a house and you're on the fence about selling it, this is the time.”

According to the Ohio Realtors Association, homes are selling at a near-record clip. And O'Donnell says prices could see a dip as the weather warms up and more properties hit the market.