Sales of existing homes rose in the U.S. and central Ohio in March, as compared with the previous month. Jim Letizia reports.
The National Association of Realtors says existing home sales rose 5.1 percent last month to a seasonally adjusted annual rate of 5.33 million. The increase follows a 7.3 percent decline in February sales, possibly reflecting the volatility in the stock market. The association notes there were strong sales gains in the Northeast and Midwest last month. Sales rose despite fewer properties on the market. The number of listings has fallen 1.5 percent over the past 12 months. Locally, the Columbus Realtors trade association says nearly 24 hundred units changed hands in March, up nearly 47 percent from February. And like on the national level, the increase comes despite fewer properties on the market. 52 hundred units were listed last month, down 2.5 percent from February. Sale prices also increased. The median national sale price was nearly 223 thousand dollars last month, as compared with 214 thousand in February. In central Ohio, the average sale price was over 191 thousand, up nearly 8 percent from February.
