Existing home sales declined in August on the local, state and national levels.
Jim Letizia reports.
The Columbus Realtors trade association says nearly 29 hundred existing homes were sold in its multi-county area last month, down 10.2 percent from July. The group blames a housing glut, with the highest number of homes of the year on the market last month - more than 79 hundred. The Ohio Association of Realtors says existing home sales statewide fell by 3.9 percent from July.
And The National Association of Realtors says existing home sales in the U.S. fell 4.8 percent from July to a seasonally adjusted annual rate of 5.31 million - the lowest level since April. July marked the highest level in more than eight years. The Association blames the decline tight supplies and rising prices that discouraged potential buyers. The median national sale price was nearly 229 thousand dollars last month, up 4.7 percent July. The average price in Central Ohio was nearly 166 thousand dollars, up six-tenths of a percent from July. And the statewide average price was 161 thousand dollars, down by nearly 4 percent from July.
