ICYMI: Dispatch: Columbus One of Tightest Markets in Nation for Homebuyers

Brown Hosting Roundtables around Ohio to Hear from Ohioans as He Works to Increase Access to Safe, Quality and Affordable Housing

WASHINGTON, D.C. – In case you missed it, a recent report from the Columbus Dispatch has named Columbus the seventh-hardest city in the country for buyers to find a home. The Columbus Dispatch reported that the median central Ohio home price rose 8.5% in January compared to 2019. 

“We have an affordable housing crisis in Ohio, and all over the country. We need a housing system that works for everyone, whether they’re renting or want to buy a home, no matter who they are, what kind of work they do, or where they live. That’s why I’m asking Ohioans to share their stories with me as we work to turn those conversations into policy ideas that help Ohio workers and Ohio families,” said Brown.

Brown is hosting roundtable discussions across Ohio as he asks for Ohioans to share their stories about the obstacles facing individuals and families struggling to find and afford a home. Wages have not kept pace with housing costs, and whether they rent, own, are trying to save for a down payment or are trying to age with dignity in their own homes, Ohioans are finding it harder to afford housing that meets their needs.

Brown is asking Ohioans to share their stories as he continues to work on policies to make housing more affordable and reverse discriminatory policies that keep Ohioans from accessing quality housing.

The Columbus Dispatch story can be found here and below:

Columbus Dispatch: Columbus one of tightest markets in nation for homebuyers 

By: Jim Weiker

February 21, 2020

Central Ohio’s housing market started the new year the way it left the old year, with higher prices and fewer choices.

Median central Ohio home prices rose 8.5% in January compared with a year earlier while the number of homes listed for sale at the end of January was 10% below a year ago, according to Columbus Realtors.

The Columbus area has become such a sellers’ market that the listing service Realtor.com this week named Columbusthe seventh-hardest city in the nation to find a home, based on the number of available listings per household.

Central Ohio has become harder for buyers despite 10% more sellers putting their home on the market in January compared with a year earlier. Homes sell so quickly, however, that overall inventory levels continue to shrink.

By the end of January, 3,445 homes were listed in central Ohio, 9.8% below a year earlier and 40% below the end of January four years ago.

Homes that sold in January were listed an average of 41 days, but lower-priced homes sold much faster. Homes listed for less than $350,000 sold in 34 days on average.

Home sales rose 9% in central Ohio in January and 10% statewide, compared to January 2019.

Sales in other Ohio cities were so strong that two of them also landed on Realtor.com’s list of 20 hardest cities for buyers: Cincinnati, at No. 19, and Akron, at No. 20.

For sellers, the story is a good one.

“The start of a new year shows a solid foundation for Ohio’s housing sector, with positive gains in pricing and a strong pace of sales across the state,” said Ohio Realtors President Chris Reese.

Nationally, home sales in January declined 1.3% from December to a seasonally adjusted rate of 5.46 million

 

 

###