Are local Cincinnati home sales weathering the changes this summer?
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As the number of listings for homes and condos continues to shrink. According to the Multiple Listing Service of Greater Cincinnati potential buyers have 9248 single family homes and 1415 condos available -exactly the same number of single family homes as 2 weeks ago and a very tiny change in the number of condos. Homearama continues to bring out potential buyers for all price levels- not just the high end. This year’s show was delayed, but I think the showcase was a nice boost in July to the usually sluggish, vacation bound prospective buyers.
Compared to the last zip code report the local Cincinnati real estate market prices continue to bounce up and down.
In spite of small increases to mortgage rates, large increases to the price of gas and a slight shortage of new listing, home sales in Cincinnati Ohio continue to hum along and continue to increase. Perhaps the idea of higher mortgage payments is motivating “fence sitters” out of their comfort zone and they’re finally making offers on properties. The best way to know is to stay tuned!