06/11/2020
FOR SALE
REAL ESTATE SERVICES
The central Ohio housing market remained robust in February, but signs are increasingly pointing to buyers and sellers now staying put because of the
coronavirus outbreak.
Figures released Friday show that the central Ohio housing market remained robust through February, but evidence mounted this week that the coronavirus outbreak is crushing that market along with the rest of the economy.
Columbus-area home sales jumped 13% to record highs and prices rose 6.7% in February compared with a year earlier.
"Home sales took a leap over the previous month...
which in a normal market and economy would signal an early start of a busy spring," Columbus Realtors President Andy Mills said in a news release.
"Now, we are moving into uncharted territory, putting all statistical data on hold," he added.
The numbers for March are likely to look very different, as potential buyers and sellers stay put during the pandemic.
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"Data in coming months won't be pretty and the nice run-up in sales we've been enjoying over the past year has been indefinitely paused," said Zillow economist Matthew Speakman in a news release.
According to a survey released Thursday by the National Association of Realtors, 48% of the nation's real estate agents said interest in home buying has dropped since the outbreak.