July home sales not as robust, inventory on the rise « How to Not Get Screwed in Real Estate

July home sales not as robust, inventory on the rise

By Chris Harpster on August 24, 2010

Posted: 8/24/2010

Columbus Board of REALTORS®

Although the first half of 2010 saw home sales increase up to 39 percent over 2009, July saw a decrease of 28.6 percent in sales.

“The expiration of the homebuyer tax credits created incredible activity last spring,” said Sue Lusk-Gleich, President of the Columbus Board of REALTORS®, “so we’re not surprised by the natural readjustment of the market over the last couple months.”

There were 1,468 homes sold in July compared to 2,047 sales in July of 2009. However, year to date sales (January through July) are still 11.4 percent higher than last year.

Central Ohio’s inventory is on the rise with a nearly 12 percent increase in the number of homes on the market last month compared to a year ago. Almost half of these16,626 homes are listed for $150,000 or below and 2,980 of them are condos.

http://columbusrealtors.com/NewsDetail.aspx?ID=392

Chris Harpster

My goal is to be known as a valuable resource for anyone who is thinking of buying or selling a new or existing home, refinancing, considering a home improvement, or anything else real estate related. Clients will learn about the home buying / sellin... Read more about this Author