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Realtors Report Declines In Existing Home Sales In January

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Sales of existing homes declined in January on the national, state and local levels. 

Jim Letizia reports.

Figures released Thursday by the National Association of Realtors show existing home sales fell 1.2 percent from December to a seasonally adjusted annual rate of 4.94 million. That was the slowest rate since November 2015. Prospective buyers are increasingly priced out of the market as years of rising prices and strained inventories have made ownership too costly. 

The Ohio Realtors trade association says sales statewide decreased by 5.3 percent from January of 2018, with more than 81 hundred homes sold. Month-to-month figures were not available. 

And the Columbus Realtors trade assocation says 16 hundred central Ohio homes sold during the month in its multi-county region, down nearly 22 percent from December. 

The median national sale price in January was 247 thousand 500 dollars, down from nearly 254 thousand in December.  

The average statewide sale price was nearly 168 thousand dollars, down from 180 thousand in December. 

The average sale price of a central Ohio home in January was 208 thousand 500 dollars, down by roughly 13 thousand from December.  

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