Existing home sales declined in May in central Ohio for the fifth straight month.
Nearly 26 hundred homes were sold in the Columbus Realtors' multi-county region, down 11 percent from May of last year. Industry analysts cite low inventories and homeowners deciding not to sell in the current market. The Ohio Association of Realtors says statewide, existing home sales declined by 4.4 percent from May of 2013. The National Association of Realtors says U.S. sales rose by 4.9 percent to a seasonally adjusted annual rate of 4.89 million. National officials credit a greater housing inventory.