Industry News

Central Ohio real estate sales cool

Record inventory to slow market through summer
Published on Jun 1, 2006

Central Ohio home sales fell 2.8 percent in April from a year ago, as the inventory of for-sale homes soared to an all-time high, according to statistics provided by the Columbus Board of Realtors. April statistics indicate that 2,192 homes were sold, down from 2,255 sold in April 2005. There were 5,028 more homes listed in April, bringing the total inventory of homes for sale up to 17,109 -- almost 30 percent more homes than were on the market last year at this time, the board reported. Despite slower sales in April, the 7,614 homes sold in Central Ohio during the first four months of the year is still 5.5 percent ahead of last year at this time. "Although sales were up in the first quarter, members were commenting that showing activity was slow," said Chris Reese, president of the Columbus Board of Realtors. "That lack of activity was made apparent by the decrease in homes that went into contract in March (down 12.5 percent from 2005) and the resulting 2.8 percent drop i...

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