Local home prices continue to climb

By Dayton Daily News

Aug. 05–June 2018 home sales continued their momentum, but just fell short of last year’s levels, down 0.99 percent compared to June a year ago, according to the Cincinnati Area Board of Realtors.

Home sales this month were 2,798 compared to 2,826 in June 2017.

“June 2018 recorded the fourth highest June home sales since 2005, the highest recorded in June 2005,” said Phil Morrical III, president of the Cincinnati AreaBoard of Reatlors. “Even though interest rates are rising slowly, the demand for housing has not subsided.”

The June average home price climbed to $233,278 compared to $221,773 a year earlier, a 5.19 percent increase. At the same time, the inventory of homes for sale, as of June 30, continued its year-over-year declining trend to 4,986 from 5,458 a year ago, down 8.65 percent.

Nationwide, June home sales were down 0.6 percent from May on a seasonally adjusted basis, and were down 2.2 percent from June 2017.

Butler County residential sales went from 547 in June 2017 to 546 this June. Average price went from $196,083 to $206,068 this June.

Warren County residential sales were 369 in June 2017 and the same amount this June. The average sale price was $276,059 in June 2017 and $289,665 this June.

This article provided by NewsEdge.