Existing Home Sales Rose In February

Mar 22, 2013

Realtors say national, state, and local sales of existing homes rose in February. 

Alison Holm reports.

The Columbus Board of Realtors says sales of existing homes in its 20 county region rose by nearly 15 percent in February as compared with the same month a year ago. The Ohio Association of Realtors says statewide sales rose by more than 10 percent, marking 20 straight months of increases. And the National Association of Realtors says existing home sales rose by eight-tenths of a percent to a seasonally adjusted annual rate of 4.98 million - the highest rate since November of 2009, when a temporary tax credit was in effect. The organizations say near record-low mortgage rates and steady decreases in unemployment rates are fueling the sales increases. Home prices are also rising. The national median sale price rose by nearly 12 percent to more than 173-thousand dollars. In Ohio, the average price rose by nearly 8 percent to 125-thousand dollars. In Central Ohio, the median price rose by nearly 2 percent to 122-thousand dollars.