Official Numbers for May Real Estate Sales
Official Numbers for May Real Estate Sales
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The Realtor® Alliance of Greater Cincinnati produces neat infographics covering monthly sales for single-family homes and condos.
Below is the infographic summarizing condo sales in Butler, Clermont, Hamilton, and Warren counties through the end of May 2023:
Condos are following the same pattern 0f the past several months – prices up and new listings down.
Single-family homes in Butler, Clermont, Hamilton, and Warren counties infographic:
And no surprise single-family homes are following condos with higher prices and fewer new listings.
The talking heads are blaming interest rates, lack of new homes, boomers, and millennials for market conditions. The reality is we couldn’t sustain the craziness forever. Boomers have the right to be concerned about moving from no or low mortgage rates to higher interest rates.
Millennials are stunned by higher rates without realizing they were artificially low for many years. Some of their grandparents and parents were happy to get a mortgage rate between 9% and 18%. And I don’t think we’ll see 4% rates anytime soon. I expect a lot more millennials to hit the market as soon as they figure out the cost of renting.
