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More Existing Homes Sold In June

Americans bought more existing homes in June as the sales rate reached its highest level in more than nine years. Alison Holm reports.

The National Association of Realtors says existing home sales rose 1.1 percent last month to a seasonally adjusted annual rate of 5.57 million, the best performance since February 2007. Industry analysts credit a solid job market and mortgage rates near historic lows, despite low inventories of homes on the market. Statewide, the Ohio Association of Realtors says June sales rose from May by seven-tenths of a percent to a seasonally adjusted annual rate of nearly 151 thousand. And the Columbus Realtors trade association says 59 hundred homes in its multi-county region were sold last month, up 5.8 percent from May. Sale prices also increased. The national *median* price was nearly 248 thousand dollars, up from nearly 240 thousand in May. The statewide average of more than 178 thousand dollrs is up 3.9 percent from May. And the regional average price of 216 thousand dollars is up 5.4 percent from the previous month.

A native of Chicago, naturalized citizen of Cincinnati and resident of Columbus, Alison attended Earlham College and the Ohio State University. She has equal passion for Midwest history, hockey and Slavic poetry.
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