Homes sales in Northeast Ohio increased by 23 percent in July compared with last year, continuing a strong trend.
Northeast Ohio Real Estate Exchange, which includes Trumbull, Mahoning and Columbiana counties, reports sales increased to 4,277 in July 2013 compared with 3,463 in July 2012, according to Ohio Multiple Listing System figures.
For the year, 23,110 homes have been sold in the region. This was an increase of 14 percent compared with the 20,278 that were sold through the end of July in 2012, according to MLS figures.
In addition, statewide homes sales have risen for 25 consecutive months, including a 25.8 percent increase in July.
“Home-sales activity in July remained brisk, helping the marketplace maintain its steady progress in recovering from the economic challenges that tested the foundation of the industry a few years ago,” said Thomas J. Williams, president of the Ohio Association of Realtors. “Attaining increased sales for the 25th consecutive month — our longest stretch of uninterrupted growth in 16 years of tracking Ohio home sales — is a clear indicator of growing consumer confidence and a renewed appreciation that housing is a solid, long-term investment.”
Sales through the first seven months of 2013 reached 74,666, a 17.5 percent increase from the 63,551 sales posted during the same period a year ago, according to OAR figures.
There were 13,354 homes sold in July compared with 10,619 in July 2012. It is the best sales figure for July in Ohio since 2005, according to OAR.