The housing market of the state of Ohio has just ended the busiest year it’s had since over a decade ago in the year of 2005, in spite of there being a sales slowdown on a nationwide scale as cold weather temperatures had begun to set in. Homes purchased on a statewide level had approached 151,600 in the previous year, which was an increase of 7.5% from the year of 2015. In Northeast OH, sales had increased by nearly 8%, based on data that was interconnected to homes that were previously owned and newly developed.
It has been a remarkable year for the housing market in Ohio, as there were record gains in average prices and sales made. Sales that were made in the month of December were increased by 2.8% from the year of 2015, however, Northeast OH and many other markets had yearly declines. The average price of sales in the state of OH was a bit more than $150,000 in the previous month, which was an increase of 4.8% from the end of the year of 2015. Growth in price and shortages in supply were the main concerns according to a report that was released by the National Association of Realtors, which had exclusively looked at the sales of homes that were currently existing.
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