Sales of existing homes in August were flat on the national level. But figures released Thursday also show mixed results on the state and local levels.
Jim Letizia reports.
The National Association of Realtors says exisiting home sales were flat in August as compared with July, with a seasonally adjusted annual rate of 5.34 million. Sales have fallen 1.5 percent during the past year. Industry analysts blame lagging sales on a shortage of inventory that is affordable for the middle class - home priced less than 250 thousand dollars. The Ohio Association of Realtors says sales fell by half-a-point from July to a seasonally adjusted annual rate of 152 thousand. The Columbus Realtors trade association says more than 32 hundred exisiting homes were sold in its multi-county region last month, up 1.3 percent from July.