Sales of existing homes rose last month on the national and state levels, but declined locally.
The National Association of Realtors says existing home sales rose 2 percent in October to a seasonally adjusted annual rate of 5.48 million - the fastest pace since June. The assocation says the available housing inventory declined 10.4 percent from a year ago to slightly less than 1.8 million. The Ohio Assocation of Realtors says sales rose 2.6 percent from September to a seasonally adjusted annual rate of nearly 154 thousand. The Columbus Realtors trade assocation says 29 hundred existing homes were sold in its multi-county region last month, down 5.8 percent from September. The statewide average sale price was 172 thousand dollars, up 5.4 percent from October of last year. The average sale price of a central Ohio home was 215 thousand dollars, up 7.9 percent from a year ago.The median sale price of an existing U.S. home rose 5.5 percent in October from a year earlier.