Columbus Dispatch: [In Central Ohio] Glimmer of hope in home sales

Click on the link to read the entire article. For most areas of Central Ohio, we are at or close to the bottom. See my post from two days ago with the charts.

clipped from www.dispatch.com Home sales improved locally and nationally from May to June, fueling optimism about early signs of an economic recovery. Although central Ohio sales last month were down nearly 7 percent from a year earlier, they jumped 15.6 percent from May. June's 2,092 sales were the most in 10 months. "We're still not out of the woods," said James Newton, chief economic adviser for Commerce National Bank in Columbus. "But undeniably, this has to be seen as a good sign." Central Ohio real-estate professionals pointed to a continued reduction in homes on the market as a sign of stabilization, which is needed for an eventual rise in prices. June's average sales price of $169,270 was 6.2 percent less than a year earlier, but it was up slightly from May's $168,576. ry Parsons, president of the Columbus Board of Realtors, said in a statement. The organization counted a 7.12-month supply of homes on the market in June, down from 8.21 months in May and an 8.03-month supply in June 2008.