Existing home sales rose on the national level in November as compared with October, but declined on the state and local levels.
Alison Holm reports.
The National Association of Realtors says existing home sales rose seven-tenths of a point last month to a seasonally adjusted annual rate of 5.61 million - the fastest pace in nearly a decade. Industry analysts say while there is a tight supply of homes, an improving job market spurred the increase. The Ohio Association of Realtors says existing home sales statewide fell by 5.4 percent in November to more than 148 thousand. But OAR says sales rose by a record 12.3 percent from November of last year. Locally, the Columbus Realtors trade association says more than 22 hundred homes were sold in its multi-county region in November, down from more than 25 hundred sold in October, but up by a record 15.8 percent from November of last year. The median national sale price of nearly 235 thousand dollars in November is down from 232 thousand in October. The statwide average sale price of nearly 162 thousand dollars is down by one thousand from October. The average regional sale price was more than 199 thousand dollars, down three-tenths of a percent from October.