Ohio home sales increase

The number of homes sold across Ohio in June increased 9.3 percent from the level posted during the month a year ago, the market’s 10th consecutive monthly year-over-year gain, according to the Ohio Association of Realtors.

Additionally, home sales activity in June rose 1.8 percent from the level reached May 2015.

“Through the mid-point of 2015 the Ohio housing market has been able to experience a strong level of sales activity and steady growth in pricing,” said OAR President Greg Hrabcak. “It’s evident that we’re continuing to make significant progress in building a stable foundation for the housing sector, as more Ohioans are exhibiting confidence that a home purchase is a solid, long-term investment.”

June’s average home price of $171,968 reflects a 4.8 percent increase from the $164,048 mark posted during the month last year.

Sales in June reached a seasonally adjusted annual rate of 143,488, increasing 9.3 percent from the 131,319 level posted in June 2014. The market also experienced a 1.8 percent increase in sales from May 2014’s seasonally adjusted annual rate of 140,920. Sales during June 2015 reached the highest level for the month since 2005.

Around the state, 14 of the 19 markets tracked reported increases in sales activity levels during the month. All but two local markets showed an increase in average sales price.

In the Toledo market, home sales increased by 15.8 percent to 959 in June. The average sale priced increased 7.6 percent to $140,767.

Home sales during the second quarter were up 10.8 percent from the same period a year ago. Sales also posted a 9.9 percent gain from the mark set in first quarter 2015. Specifically, second quarter 2015’s seasonally adjusted annual rate reached 140,413, a 10.8 percent increase from the quarterly pace a year ago of 126,748. Sales during the recent quarter were 9.9 percent ahead of the first quarter 2015 mark of 127,746. Second quarter 2015 dollar volume of more than $6.5 billion is up 16.2 percent from the same period last year.