November Home Sales in Ohio Down Over Last Year

COLUMBUS, Ohio – Home sales in Ohio dipped in November, while average prices continued to rise, according to Ohio Realtors.

Ohio home sales reached 10,629 in November, a 25.6% decrease from the 14,293 sales in November 2021. The average sales price across Ohio reached $252,167, a 4.9% increase from the $240,442 mark in November 2021.

“Rising mortgage interest rates dampened consumer demand, slowing overall sales activity in all Ohio markets in November,” said John Mangas, president of Ohio Realtors. “Despite the downturn in sales, the marketplace continued to experience an uptick in average price – a clear indication of consumer confidence that housing is a wise, long-term investment.”

Around the state, seven of the 14 markets tracked experienced an increase in average price for the month compared with November 2021. Additionally, all of Ohio’s local markets posted a decline in sales activity compared with a year ago.

Published by The Business Journal, Youngstown, Ohio.