Ohio Homes and Real Estate; We Have a Pulse.
Legalized gambling, new casinos and "racinos" adding jobs, General Electric realizing a tax break of as much as $88 million from the state in exchange for keeping 5,000 full-time jobs in southwest Ohio. City improvements from Cleveland to Cincinnati, communities receiving funds to demolish decrepit and abandoned homes, a surge of newly constructed homes and new subdivisions being plotted while others expand. The Ohio Bureau of Workers' Compensation (BWC) Board of Directors approved a premium rebate for all public and private employers. The $1 billion in rebates for the approximately 210,000 employers.
The Ohio real estate market has been one of the worst in recent years in comparison to other states, and probably why it ranks in the top five states for recovery now. Ohio Association of Realtors President Thomas J. Williams posted a very encouraging article on ohiorealtors.org last July; "The number of homes sold across Ohio rose 15.5 percent in June, as the market posted year‐over‐year gains in activity for the 24th consecutive month, according to the Ohio Association of Realtors. Over the past two years the Ohio housing market – month‐by‐month has made slow, steady and consistent progress in its effort to recover from the economic challenges wrought by the recession. Attaining 24 consecutive months of gains in sales activity – our longest stretch in uninterrupted growth in 16 years of tracking Ohio home sales – is a clear indicator of growing consumer confidence and a renewed appreciation that housing is a solid, long‐term investment."
Ohio Real Estate Market Gaining Strength
As you can see, there are many positive forces at work, and it's working. Sale and prices are up as we return to a more balanced market inviting buyers to coup a good deal on a residence while sellers feel encouraged about their house values. We can expect great things in 2014 for Ohio's housing market.
As professional Ohio Realtors, my business partner Marty Snyder and I sell dozens of homes every year, and together we see all the ins-and-outs. If you're buying or selling between Dayton and Cincinnati, perhaps Beavercreek, Indian Hill or Batavia Township, we'd love to put our expertise to work for you.