(September 21, 2007) Local REALTORS® are energized about the number of homes available for sale in the central Ohio area right now. With the 4,505 new listings added to the market last month, that brings the total inventory of residential listings to 19,789 - a full 5.5 percent more than last year but almost twice (83 percent) the selection buyers had just 5 years ago according to the Columbus Board of REALTORS®. "Buyers today have access to a greater variety of homes for sale compared to any other year in our history and interest rates are still hovering around 40-year lows," said Brad Bennett, President of the Columbus Board of REALTORS®. "And if that news isn't enough to get people excited about buying real estate, the Federal Reserve slashed their key rate this week by a half point which made borrowing at the lending level more affordable and should further strengthen our competitive mortgage interest rates." Year to date sales are still short by about 4.7 percent when compared to last year which, at that time was still the second highest year on record for home sales. Home sales figures for the month of August show that, on average, homes are selling at a slower pace than the same month last year. "REALTORS® are encouraging buyers to take advantage of this market," adds Bennett. "Although appreciation has been flat while the market corrects itself, homes have appreciated 33.7 percent over the last decade. Investing in real estate - especially in central Ohio - is one of the smartest long term decisions a buyer could make." | | Additional Statistics 
To view residential properties for sale, visit www.Realtor.com. To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org. |
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