Existing Home Sales Declined In June
Existing home sales declined in June on the national and state levels, but rose slightly on the local level. Jim Letizia reports.
The National Association of Realtors says sales of existing homes fell 1.8 percent last month to a seasonally adjusted annual rate of 5.52 million. Industry analysts say homebuyers faced surging prices and a shrinking housing inventor in June, and note sales levels have been nearly flat for the past year because of those factors. The Ohio Association of Realtors says existing home sales in June fell 3.2 percent to a seasonally adjusted annual rate of more than 149 thousand. The Columbus Realtors trade association says 34 hundred homes were sold in June, up 7.1 percent from May. The national median sale price of nearly 264 thousand dollars is up 11 thousand from May. Ohio's average sale price of nearly 186 thousand dollars is down by nine thousand from May. And the median sale price in central Ohio of nearly 193 thousand dollars in June is down by 35 thousand from the previous month.