Posted on: February 21st, 2020 by Andrew Clark, Click Here for Source Site
2020 Starts on a Positive Note
2020 January home sales started the year strong with sales up + 8.3% compared to January a year ago. Home sales this month were 1,346 compared to 1,246 in January 2019.
“2020 is starting off strong with home sales up over last year,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “Soon we will be entering our Spring market. Our moderate January weather, low interest rates, reasonable prices and a constantly rotating inventory keeps Cincinnati amongst the most affordable places nationwide to live. We continue to experience business growth and an influx of young and established families moving into Greater Cincinnati,” said Meyer.
Local home mortgage rates in January averaged 3.72% for a 30-year fixed rate loan. The rates were down compared to 4.56% a year ago. At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $461.
“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best source for professional and accurate information,” said Meyer.
Nationwide, January home sales were down -1.3 % compared to December on a seasonally adjusted basis, but were up + 9.6 % from January 2019.
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