The housing market in Ohio has had their busiest year since 2005. The homes purchased reached 151,600 last year which was up 7.5% from 2015. The Northeast portion of the state saw a rise of 8%. Sales in December saw a 2.8% increase over 2015. The National Association of Realtors is concerned about shortages in supply and the upcoming growth in the housing market.
Even thought sales throughout the nation have had their strongest year in more than a decade the slide in December affected the gains. Previously owned homes were only ahead by 0.7% by the time the year ended. The average middle range price for an existing home was at $232.200 an increase of 4% over last year. This was believed to be the result of low mortgage rates and solid jobs.
Although the rates saw a surge after the presidential election they have already begun to drop. The problem is although there are plenty of buyers there are not enough existing homes. The number one reason being cited for the current black hole of real estate is lackluster inventory. According to the numbers from December there is only a 3.6 month supply of housing available in the nation. A supply of six months is considered to be a balanced market.
Tammy Mazzocco started her career in real estate as a secretary for a firm handling commercial real estate. Tammy Mazzocco worked with nine agents and spent seven years managing condominiums and acquired her license in real estate in 1995.
In 1998 Tammy Mazzocco became a licensed personal assistant for RE/MAX in Columbus. After observing very successful real estate agents she decided to pursue it as a full time career. Tammy Mazzocco is now selling real estate in numerous areas of Central Ohio.
Visit her Facebook page for more info.