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Ohio housing market experiences its busiest May in nearly two decades – June 2017

Statewide home sales hit a record pace during May, edging up from April and besting the previous year’s level.  The Ohio Association of Realtors said the state’s housing market experienced its best May since at least 1998, when the trade group started tracking data. Buyers snapped up 15,366 new and previously owned houses and condominiums, the organization said, at an average price of $176,804.  Seasonally adjusted figures show that the annual sales rate was 3.4 percent higher than in May 2016. And activity was up 1.2 percent from April, based on the Realtors’ calculations. The association predicts that Ohio will approach 152,400 sales this year, for a 2.3 percent increase over 2016. Price also continued to climb across the state as buyers vied for a limited supply of properties. The average sale price was 5.2 percent higher in May than a year before…Read the full article