From the Columbus Board of Realtors
http://www.columbusrealtors.com/16595.cfm
March home sales increase as first-time buyers leave the fence
(April 23, 2009) Home sales continued to increase in March, marking the highest number sold in a single month since October, and a sign that first-time buyers are starting to come off the fence, the Columbus Board of REALTORS® said today.
"It has been my impression that the first-time homebuyer is fueling the market now which should funnel up to the second and third generation buyer in the short-term future," said Gary Parsons, president of the Columbus Board of REALTORS®.
"It appears historically-low interest rates; realistic sellers and the $8,000 tax credit are positively impacting our market."
There were 1,360 homes sold in March, a 21.1 percent increase over February sales, but still down compared to March 2008.
"Although sales are increasing, they are down compared to last March, indicating some buyers and sellers are still cautious to enter the market at this point.
The housing market is influenced by consumer confidence, which is still lacking somewhat," added Parsons. "If people are serious about buying, and they're waiting for the market to bottom out, they may end up waiting too long and missing a great opportunity."
Although affordability is still at record levels, the average sales price increased in March to $143,287.
That's the highest average sales price this year, but still down 7.6 percent compared to last March.
"Prices are still favorable, especially with the $8,000 tax credit for first-time buyers, but as more inventory is absorbed, prices will continue to rebound," Parsons said.
From Business First
Realtors: Region’s March home sales down 19%
http://columbus.bizjournals.com/columbus/stories/2009/04/20/daily33.html?s=du&ana=e_du_pub&ed=2009-04-23
Lower consumer confidence continued to make its mark on Central Ohio’s real estate scene last month, which saw a 19 percent decline in existing single-family home sales, the Columbus Board of Realtors reported Thursday.
The board said 1,360 single-family homes and condominiums were sold last month, down from 1,680 a year ago. Homes in contract, a sign of future sales activity, dropped 31 percent to 1,318 homes.
The average sale price of a home in Central Ohio dropped 8 percent last month to $143,287, compared with $155,141 a year ago.
Board President Gary Parsons said record-low mortgage rates and a first-time homebuyer tax credit are fueling month-to-month gains in home sales, but attributed the lag from last year’s pace to consumer caution.
“The housing market is influenced by consumer confidence, which is still lacking somewhat,” Parsons said in a release.
Sales in the first quarter fell 23 percent to 3,442 homes and condominiums from 4,477 in the first three months of 2008. The average sale price was down 10 percent from last year at $138,500.
New listings for the market were down 13 percent in the first quarter, putting the total of homes on the market down 14.5 percent from a year ago at 14,279 units.
Board of Realtors statistics include market information from most of the seven-county region along with parts of nine nearby counties.
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