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Fewer Existing Homes Sold In July

Existing home sales on the local, state and national levels declined in July thanks to a shortage of available properties and rising prices. Jim Letizia reports.

The National Association of Realtors says existing homes sales fell 3.2 percent in July from June to a seasonally adjusted annual rate of 5.39 million. The number of listings has declined by 5.8 percent from a year ago. Statewide, the Ohio Association of Realtors says existing home sales fell 2.7 percent in July from June to a seasonally adjusted annual rate of nearly 147 thousand. The Columbus Realtors trade association reports a 5.5 percent decrease in sales in July from the previous month in its multi-county region. 3 thousand central Ohio homes were sold in July.  The median sale price of an existing home in the U.S. was 244 thousand dollars in July, up 5.3 percent from a year ago. The statewide average price was 173 thousand dollars, down from 178 thousand in June. The average regional price was nearly 214 thousand, down by 1.2 percent from June.

Jim has been with WCBE since 1996. Before that he worked as a reporter at another Columbus radio station, and for three newspapers in Southwest Florida.
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