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Housing sales lead realtors to remain optimistic
By Kalea Hall
YOUNGSTOWn
Across the nation, state and region, housing sales were positive in July, leading real-estate agents to remain optimistic about the future.
New-home sales in the nation rose 5.4 percent last month to a seasonally adjusted annual rate of 507,000 above the revised June rate of 481,000, the U.S. Census Bureau and the Department of Housing and Urban Development said Tuesday.
In Ohio, sales rose 15.4 percent year over year, which made for the market’s 11th-consecutive monthly year-over-year gain, according to the Ohio Association of Realtors.
Locally, housing sales in all three counties were up in July, as reported by the Youngstown/Columbiana Association of Realtors and the Warren Area Board of Realtors.
“It is a good reflection of the economy,” said Michael D. Klacik, broker for Poland-based Klacik Real Estate. “There are more people able to buy homes.”
Consumer confidence, job growth, low mortgage rates and other factors have helped boost housing sales by 21.2 percent through the first half of 2015.
New-home sales in the U.S. climbed by 23.1 percent in the Northeast; by 5.8 percent in the South; 6.7 percent in the West; and dropped by 6.9 percent in the Midwest.
In Ohio, housing-sales activity in July increased 6.3 percent from the level reached in June 2015.
“This has been, overall, a very good year,” Klacik said. “A timely sale can occur now as long as the pricing is right and the home’s condition is good.”
Klacik’s best month for sales, mostly in Mahoning County, was April.
“July is historically vacation month,” he said.
In July, Mahoning County’s pending sales increased 48.9 percent, going from 229 in July 2014 up to 341 in July 2015.
Closed sales increased 33 percent, from 230 up to 306.
In Trumbull County, pending sales increased 13.1 percent, from 191 in July 2014 up to 216 in July 2015, and closed sales were up 12 percent, from 175 in July 2014 up to 196 in July 2015.
In Columbiana County, pending sales went from 83 in July 2014 up to 107 in July 2015. Closed sales went up 16 for the month, from 73 to 89.
The price that homes were selling at also was up in July.
Ohio’s average home price of $167,425 reflects a 2.6 percent increase from the $163,230 mark posted during the month last year.
Locally, Mahoning, Trumbull and Columbiana counties all saw an increase in the average selling price because of lower supply and higher demand.
“I think overall, the Mahoning Valley is seeing a strong upswing because people feel secure,” said Thomas J. Williams, former president of the Ohio Association of Realtors and broker at Northwood Realty in Howland. “I think our housing industry will continue to grow. I don’t see any indication from it slowing at this point.”