Industry News

Midwest real estate sales rebound

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Home sales and prices throughout Ohio and Illinois gained strength in August, according to Realtor associations in both states.   Ohio home sales reached a record-shattering 15,605 in August, a 9 percent increase from the prior best of 14,318 sales recorded during the month last year, the Ohio Association of Realtors reported. The month's average sales price of $164,735 is a 5.1 percent increase over the August 2004 average sales price of $156,783.   Ohio sales of new and existing homes this year (January-August) totaled 98,874, a 5.2 percent increase from the previous best-ever of 93,969 sales posted during the period a year ago.   In Illinois, there were 19,957 total home sales in August, up 8.6 percent from 18,384 sales in August 2004. The Illinois median home price in August was $215,000, up 11.1 percent from $193,500 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less.   Total home sales year-to-date (J...