Industry News

Midwest real estate reports record March

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Housing markets in Ohio and Illinois shattered sales records in March, while home prices continued to experience mixed movement, according to Realtor associations in both states. In Ohio, sales of new and existing homes last month reached 12,592, a 5.4 percent increase from the previous best-ever of 11,949 sales posted in March 2005, the Ohio Association of Realtors reported. The month's average sales price of $146,481 was down 1.4 percent from the $148,613 average posted during the same month last year. Ohio's year-to-date sales of new and existing homes totaled 28,989, a 5.4 percent increase from the 27,511 sales posted during the three-month period in 2005, which previously served as the market's best-ever for the quarter. In Illinois, total home sales in March outperformed all previous years and set a new record for the month, according to the Illinois Association of Realtors' latest report. Total homes sales (which include single-family and condominiums) were up 4.9 pe...