Housing Trends

Housing TrendsAmerica's Most Stable Housing MarketsMatt Woolsey, 10.01.07, 4:00 PM ET

Also primed for a stable year are Pittsburgh, Columbus, Ohio, and Dallas. They follow Seattle in our ranking of the country's 10 most stable markets. All are projected to have median home sale price increases next year, thanks to a combination of factors including lower-than-average inventory levels, little price volatility and high job growth.
(excerpt from Forbes.com article)

Columbus, Ohio
Median home price: $153,900
Annual price change from 2006: -1.2%
Projected price change to 2008: 3.49%
Columbus, like many other cities in Ohio, has witnessed a deteriorating subprime lending situation. While things aren't going to turn around instantly--projections list Columbus as the 17th worst market for delinquencies (out of 40)--the city's sales rate is picking up. Based on Moody's Economy.com calculations, next year Columbus should boast the eighth-fastest sales rate of the 40 markets examined.
Read the entire Forbes.com article at:

http://www.forbes.com/2007/10/01/property-stable-homes-forbeslife-cx_mw_1001realestate.html

Statistics for Columbus Ohio

Single family homes are about 8% below the number of closed sales year-to-date 2006 as of September 30, 2007. The numbers are preliminary and final totals may show a lesser decline.

Condominiums are about 1.3% below 2006 levels based on preliminary counts.

Both categories have significant inventory levels with single family at 16,000 with average “days on market” of 120 and condominiums at 3,437 with an average “days on market” of 133.

Considering that 2006 was another record level year, 2007 is healthy and doing well.
(above information based on Columbus Board of Realtors MLS data)

Current interest rates are still very attractive at 6.25% for 30 year fixed loans.

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