Industry News

Central Ohio real estate rebounds

Home prices, sales climb in July

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Central Ohio home sales picked up in July after falling the month before, according to the Columbus Board of Realtors Multiple Listing Service. Realtors reported 2,657 residential home sales during July, up 2.8 percent from 2,584 homes sold a year ago. Year-to-date, home sales are running 1.2 percent above the same period last year, with 15,654 sales reported so far this year, compared with 15,465 last year. "Recent economic forecasts are now predicting that 2005 will be a record year and our home sales support that," said Doug McCloud, president of the Columbus Board of Realtors. "The 3,000 or so jobs added in this region over the last 12 months has been a strong motivator in home sales. Anticipating additional job growth and continued low interest rates, we expect the remainder of the year to see slightly higher than average home sales." The average price of a Central Ohio home sold in July was $187,400, up 8.1 percent over the year-ago price of $173,328. The Columbus Board ...