At Home with Connie Sadowski, Real Estate Expert

Closings are up nearly 8 percent in October in the latest monthly report from Columbus REALTORS®  October 2024 - Columbus Realtors Sales in central Ohio remained steady into October as the region witnessed a 7.6% increase in closed sales and 3,047 new listings added to the market. There were 2,539 home sales reported in the Columbus & Central Ohio Regional MLS last month, up from 2,360 sales in October 2023. This month’s sales closely mirrored September, when 2,508 homes changed hands. The median sale price is up 3.3% year over year, checking in at $315,000. One bright spot for consumers is that the median sales price dropped 2.8% compared to last month, when the median sales price was $324,000. “If you’re a potential home buyer or seller in central Ohio, we know that the market can be a little challenging at times,” said Columbus REALTORS® President Scott Hrabcak. “When sales, inventory, and prices are up, a REALTOR can provide expertise and navigate you through the process.” ...

COLUMBUS, Ohio (Oct. 23, 2024)— September saw a 2.6% increase in closed sales, and inventory rose to a two-month supply for the first time in six years in the latest set of housing statistics issued by Columbus REALTORS®. The total inventory of homes for sale in the Columbus & Central Ohio Regional MLS was 4,804 in September, up 4.7% from last month and 32.6% year over year. The last time inventory reached a two-month supply in central Ohio was August 2018, when 5,429 homes were listed. “For the better part of two years, we saw a large majority of homeowners choosing to stay in their homes,” said Columbus REALTORS® President Scott Hrabcak. “As mortgage rates dropped and inventory increased, the market stabilized, but sales remained consistent. In the end, consumers have more choices.” There are similarities between September 2024 and August 2018. There were 3,249 closed sales, with an inventory of 5,429 homes. That month, there were 3,821 new listings, and homes sold at a one perce...

Favorable Inflation Data August 13, 2024 Overview: Over the past week, investors were focused on two key monthly inflation reports. In some good news for mortgage markets, all the data was in line with or below expectations, clearing the path for Federal Reserve rate cuts later this year. As a result, mortgage rates moved lower. The Consumer Price Index (CPI) is one of the most widely followed inflation indicators. To reduce short-term volatility and get a better sense of the underlying inflation trend, investors typically look at core CPI, which excludes the food and energy components. In July, core CPI was 3.2% higher than a year ago, which is down from 3.3% last month. It’s the lowest annual rate of increase since April 2021. Although this annual rate has fallen sharply from its peak in September 2022, it is still far above the readings around 2% seen early in 2021, which is the stated target level of the Fed. The primary reason is that shelter (housing) costs remain stubbornly ...

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie. CAUTION: Do not go it alone, take me, an experienced real estate expert with you to all appointments or you might not have your own agent and may be forced to have no independent representative. Dont register on a builders website....you might not be allowed to bring me to represent you! Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option. Reason 1: Lower Median Prices for Newly Built Homes The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, ...

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make. While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says: “Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.” Instead of trying to time the market, focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move. 1. Do You Have a Stable Job? One thing to consider is how stable you feel your employment is. Buying a home is a big purchase, and you’re going to sign a home loan stating you...