Thinking back to 2012 when I first got my license, we were all so excited to see the market finally turning around and saw a 3% growth over 2011. We also were expecting interest rates to soar to 5% within the year. Fast forward to today and we still don't have 5% interest rates, and values have climbed to +8% increases year over year!
CABR posted on January 22, 2020, "2019 December home sales found strength and soared, up + 11.4% compared to December a year ago. Home sales this month were 1,861 compared to 1,670 in December 2018. Total Home Sales for 2019 exceeded 2018 by 0.43% or 25,751 in 2019 compared to 25,641 in 2018.
“2019 ended with the housing market remaining strong and affordable,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “Our low interest rates, reasonable prices and a constantly rotating inventory provides us the perfect mix to help keep Cincinnati amongst the most affordable places nationwide to live. Our region continues to experience business growth and an influx of young and established families moving into Greater Cincinnati,” said Meyer.
The December average home price climbed to $227,948 compared to $209,545 a year earlier, an + 8.78% increase. At the same time, the inventory of homes for sale, as of December 31, continued its year-over-year declining trend, dropping from 4,372 a year ago to 3,437 in December 2019, down – 21.4 %."
So here is to seeing the Roaring 20's ROAR!
