OHIO — Many Americans are contemplating whether it’s a good time to buy or sell a home. Given higher mortgage rates and the relentless competition, what are projections for the housing market for the coming months?
Nationwide, nearly 30% of homes are selling above list price, according to the National Association of Realtors. In Ohio, according to the Housing Shortage Tracker, Cleveland-Elyria, Akron and Toledo have a high housing shortage. Meanwhile, Cincinnati, Columbus, Canton-Massillon and Huntington-Ashland have a need for more building permits for new housing to match the job market.
Ralph Mantica, president of Ohio REALTORS, offered advice for home buyers and sellers during an interview with Spectrum News.
“We’re just seen buyers who want to get into the housing market, understand the value of owning a property, or trying to get their piece of the American pie—and we’re not seeing it slowing down at all,” said Mantica.
