FOR IMMEDIATE RELEASE
TO: All News Media
FROM: Tiffany Meyer. Ohio REALTORS President
Carl Horst, Ohio REALTORS Director of Publications & Media Relations
RE: Ohio’s June 2018 Home Sales
DATE: July 23, 2018
The pace of homes sold across Ohio in June fell a negligible 0.4 percent from the month’s record-breaking level set a year ago, according to Ohio REALTORS.
“Through the mid-point of 2018 the Ohio housing marketplace has built a solid foundation -- exhibiting positive gains in pricing while simultaneously maintaining a near-record pace of sales,” said Ohio REALTORS President Tiffany Meyer. “It’s evident that the desire for homeownership remains strong throughout the state and that Ohioans are increasingly confident that a home purchase is a smart, long-term investment.
“Ohio’s REALTOR community remains hopeful that we will begin to experience a rise in the number of homes being marketed for sale so that the momentum that has been established will continue to build in the months ahead.”
June’s average home price of $197,866 reflects a 6.5 percent increase from the $185,847 mark posted during the month last year.
Sales in June reached a seasonally adjusted annual rate of 149,278, a 0.4 percent decrease from the best-ever 149,809 level during the month a year ago. The market also experienced a slight 1.1 percent drop in sales from the May 2018 seasonally adjusted annual rate of 150,991.
Around the state, 17 of the 18 markets tracked reported an upswing in average sales price during the month. Additionally, five markets posted gains in the pace of sales.
Home sales during the second quarter were up 0.3 percent from the same period a year ago and 2.7 percent from the mark set in the first quarter 2018. Specifically, the second quarter 2018’s seasonally adjusted annual rate reached 151,765, a 0.3 percent increase from the previous best-ever rate for the three-month period set a year ago of 151,352. Sales during the recent quarter were 2.7 percent ahead of the first quarter 2018 mark of 147,786. Second quarter 2018 dollar volume of $8.3 billion is up 5.4 percent from the same period last year.
Data provided to Ohio REALTORS by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS, with more than 32,000 members, is the largest professional trade association in Ohio. The methods addressing Ohio REALTORS reporting of home sales activity is available at www.ohiorealtors.org.
Click here to view the seasonally adjusted Ohio home sales report and a market by market analysis of sales activity throughout Ohio and local contact information. To view a market-by-market sales report, click here.
(NOTE: There might be a slight variance between the reported number of sales contained in this release and actual activity in the various markets due to OAR’s early reporting requirement. Check with contacts in the particular market.)
Ohio REALTORS Communications Group