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A recent report issued by the Mortgage Bankers Association -mortgage applications are “mostly flat”. If buyers continue to delay their decisions about buying a condo or home the next few months could cause some price shifting in the greater Cincinnati real estate market. According to the Multiple Listing Service of Greater Cincinnati potential buyers have 9185 single family homes and 1345 condos available for sale. Compared to the last zip code report the local Cincinnati real estate market prices are continue to bounce up and down even the inventory counts remains fairly stable.
Long term impact of the of government stupidity could really slow the housing market even more than the normal changes we have for the fall and winter seasons. Nationwide, pending sales slipped a bit in August and while the official September numbers haven’t been published- I think it’s safe to assume that pendings will remain lower than expected. Sluggish sales combined with difficulties obtaining mortgages is not a good recipe for continued real estate recovery.