Number of pending home sales rises for 18th-straight month in Ohio
For the 18th-straight month the number of homes and condominiums under agreement to sell has increased over the previous year, according to the Ohio Association of Realtors.
“The Ohio housing marketplace is continuing its remarkable recovery from the economic challenges from a few years ago,” said Robert U. Miller, president of the Ohio Association of Realtors. “The fact that the number of homes put under contract in October increased for the 18th-straight month is a clear indication that we’re making progress in establishing a solid foundation for a stable, sustainable and growing housing market throughout the Buckeye State.”
A pending sale or a sale “under agreement” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and have the sale be recorded.
OAR, the largest professional trade association in the state with 26,000 members, is the only organization that compiles this statewide information from selected Multiple Listing Services each month. The tracking of these pending sales is designed to help offer a forecast of where the real-estate market is headed in the next few months as the pending sales are completed.