Valley home sales, prices continue to yo-yo

Home sales in Trumbull County are up, but prices are down.

In Mahoning County, the opposite is true.

The average selling price for homes in Trumbull County in May was $87,428, down 9 percent from the same month last year. Trumbull County lost nearly 5,000 jobs last year when General Motors and Delphi Packard Electric offered buyouts and early retirement incentives to their workers. Home sale prices have been down each month this year.

Real estate agents have said that a drop in the average selling price could mean prices are falling, or it could mean more people are buying lower-priced homes.

Despite the drop in average sales prices, the number of sales in Trumbull County has been up. Last month, the county had 184 closings on single-family homes, which was eight more than in May 2006.

Real estate closings typically occur about 30 days after a sale contract is signed.

For the complete story, see today's Vindicator and Vindy.com