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Realtors Report Declines In Existing Home Sales In January

Feb 22, 2018

Existing home sales in January declined on the local, state and national levels. 

Jim Letizia reports. 

The National Association of Realtors say U.S. existing home sales fell 3.2 percent in January to a seasonally adjusted annual rate of 5.38 million. The association blames rising prices and an inventory shortage. The total supply of homes for sale fell to 1.52 million last month, the fewest for any January since record keeping began in 1999. The Ohio Association of Realtors say sales fell by 4.5 percent in January from December to a seasonally adjusted annual rate of 146 thousand. The Columbus Realtors trade association says January sales fell by 12 percent from December, with just over 19 hundred existing homes changing hands. The average sale price for an Ohio home in January was nearly 162 thousand dollars, up 4.8 percent from the same month a year ago. In central Ohio, the average sale price was nearly 206 thousand dollars, up 5.8 percent from January of 2017.