Ohio's home sales stimulate guarded optimism

Columbus, OH – Sales of new and existing homes in Ohio rose 7.6 percent last month from the level seen in May. But the Ohio Association of Realtors says sales for June were down more than 16 percent compared with a year ago. Still, the latest monthly report finds Ohio in better shape than the rest of the country on average. U.S. sales of existing homes fell by a worse than expected 2.6 percent last month. Ohio Association of Realtors President Brad Knapp says there's guarded optimism the state's housing market may be stablizing. While monthly sales activity in Ohio has outpaced the previous month's level for five consecutive reporting periods, Knapp tells Mike Foley that good news must be tempered by the market's traditional, seasonal peaks and valleys.