breaking news

'Pops, don't worry ... I'm doing the right thing' | Ex-Marine killed in Syria kept his mission secret from family

Home sales, prices rise in June


Home sales for the region including Clark County climbed 13.4 percent in June from the same month last year as historically low mortgage rates and consumer confidence continue drawing buyers in the market, industry experts said.

The Ohio Association of Realtors said Monday that 465 existing single-family homes and condominiums were sold in the seven-county region last month, up 13.4 percent from June 2012 sales of 410 homes.

The region includes Auglaize, Champaign, Clark, Logan, Mercer, Miami and Shelby counties.

The region’s average sale price also rose. Homes sold in June for an average $119,111, an increase of 6.3 percent from $112,086 a year earlier, according to early estimates released by the state realtors association.

In Clark County alone last month, 122 homes sold for an average price of $102,638, said Jerome Vinson, 2013 president of Springfield Board of Realtors and real estate agent at the Springfield firm Real Estate II.

Activity in the Clark County housing market is being driven by empty nesters downsizing to smaller houses and homeowners with children wanting to get settled in a new school system before fall, Vinson said.

Also affecting the market is “interest rates have inched up some,” Vinson said. “The interest rates are projected to go up into 2014” based on projections by National Association of Realtors.

June is historically one of the strongest months of the year for home sales and more homes sold in June than any other month so far in 2013 across the region.

The number of homes sold in the region including Champaign, Clark and Miami counties has increased for nine consecutive months. Sales prices have been more sporadic. After beginning the year with three months of year-over-year declines in the average sold price, the average price increased year-over-year throughout the multi-county region from April through June, according to state industry data.

Housing is an important segment of the economy and an improving housing market can help property owners restore equity. For most people, their house is their single biggest asset, and acts as a store of wealth.

As of the end of 2012, 31 percent of Clark County homeowners were so-called “underwater,” owing more on their house that it’s worth, according to data from Zillow Inc.

Statewide, preliminary estimates show that 13,019 sales of single-family homes and condominiums closed last month, up 15.5 percent from June 2012 home sales of 11,267 units, said the Ohio Association of Realtors. The June Ohio average sales price was approximately $161,498, compared to $150,992 a year ago.

Western Regional Information Systems & Technology in Troy houses the region’s Multiple Listing Service for recording home sales and listings.

The biggest challenge in the market “is probably still getting people financed,” Vinson, with Real Estate II, said.



Reader Comments ...


Next Up in News

Girls hospitalized after mom locked them in car for hours, police say
Girls hospitalized after mom locked them in car for hours, police say

A mother was charged after she was accused of leaving her two young children locked in a car for nearly three hours Sunday night in Charlotte, North Carolina. The 4- and 5-year-old girls had to be hospitalized. Millicia Middleton, 25, went before a judge Tuesday after being charged with child abuse. "I live here so I wish I had seen it,&rdquo...
NYPD widow gives birth to slain cop’s baby 3 years after his murder
NYPD widow gives birth to slain cop’s baby 3 years after his murder

Her husband was killed in the line of duty, but nearly three years after his death, Pei Xia Chen has given birth to a baby girl, WPIX reported. Wenjian Liu and his partner Rafael Ramons were shot and killed while they sat inside their marked cruiser in December 2014. >> Read more trending news Ismaaiyl Brinsley killed himself after gunning down...
Police find homeless man living in woman’s attic
Police find homeless man living in woman’s attic

You know those noises you hear at night that you attribute to the house settling? One woman in Arlington, Virginia, found out those noises were not the house or the wind, but rather a homeless man who broke into her home and set up residence in her attic, WRC reported. The woman told WRC that she heard footsteps in the attic overnight and checked with...
Dad stranded daughter, 10, in desert with no shoes or water after argument, deputies say
Dad stranded daughter, 10, in desert with no shoes or water after argument, deputies say

An Arizona man is facing child abuse accusations after he allegedly stranded his 10-year-old daughter in a desert with no shoes or water. According to KSNV, Christopher Charles Watson, 28, of Kingman was arrested on one count of felony domestic child abuse after a woman called 911 on Saturday morning, claiming she had found a girl crying...
Alligator 'ate toes off' homeless Florida man bathing in retention pond
Alligator 'ate toes off' homeless Florida man bathing in retention pond

A homeless man was bathing in a Port Charlotte, Florida, retention pond Monday when a 9-foot-long alligator attacked him. According to WFTX, the man, later identified as 68-year-old Fredric Iman, sustained injuries to his left foot, left leg, left hand and groin. Following the attack, he went to a nearby surgery center where an employee notified...
More Stories