Ohio Market Watch: Higher Prices Not Hindering Consumer Interest in Buying
Article pulled from the Ohio Association of Realtors on Nov. 17, 2017.
By Greg Stitz, Ohio REALTORS Director of Research
Home sale prices in Ohio increased 5.1 percent from 2015 to 2016 and so far this year have increased 5.3 percent over the same period last year. According to findings from Ohio REALTORS September 2017 housing confidence survey, 41 percent of respondents admit higher prices have not changed consumer interest in buying. Another 41 percent indicate an increase in consumer interest in buying in lieu of the higher prices and only 18 percent observe higher prices having a negative impact.
Survey results are based on responses to a monthly survey, designed to capture the effects of the existing economic conditions and trends on the real estate industry, sent to a pool of 1,500 Ohio REALTORS participants.