Inman News reported today: 

"Ohio real estate squeezed by rising interest rates Sales, prices slide in May"

"Cincinnati, Ohio Home sales in Cincinnati, Ohio, fell 3.9 percent in May from their year-ago level, while the average home price dipped 2.3 percent to $177,326.

Home sales activity throughout Ohio continued to slow in May, taking prices lower as well, the Ohio Association of Realtors reported this week.

Sales of new and existing homes in May totaled 13,759, down 1.6 percent from a year ago when 13,987 sales were recorded. The month's average sales price of $156,864 sank 1.4 percent from last May's $159,100."

The Inman article went on to say that Ohio home sales were up 2 percent year to date according to info released by the Ohio Association of REALTORS®

"Despite rising interest rates the marketplace has been very strong during the first five months of the year, posting solid numbers in May and remaining on track for one of our best years ever," said Darlene Breen, president of the Ohio Association of Realtors. "Higher energy costs and a less than robust economy are key factors in our housing market returning to more traditional sales levels."

Columbus Sales were UP in May according to CBR (Columbus Board of REALTORS®

Copyright 2006 Columbus Best Blog and Maureen McCabe