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Local Existing Home Sales Declined In July

Existing home sales increased last month on the state and national levels, but declined in central Ohio. Jim Letizia reports.

The Columbus Realtors trade association says more than 27 hundred existing homes were sold in its multi-county region in July, down by 3.4 percent from June. Industry analysts blame a larger housing inventory. The Ohio Association of Realtors says existing home sales rose by 1.2 percent in July from the previous month. 134 thousand existing units were sold. The National Association of Realtors says existing home sales rose by 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million, the highest rate since last September. That group says more homeowners are selling, mortgage rates remain low and price gains have slowed this year, making purchases more affordable. The average sale price in Central Ohio was over 199 thousand dollars, down one percent from June. The statewide average price was over 162 thousand, while the national median price was nearly 223-thousand dollars. 

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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