Ohio Annual Home Sales Increase Slightly In 2011

Data from a real estate listing service shows home sales in Ohio last year increased in comparison with the previous year for the first time since 2005. The head of the Ohio Association of Realtors says sales of new and existing homes totaled 99,881 last year, up slightly from 99,741 in 2010. But the average sale price dropped by 3.6 percent to just over $127,800 last year. The trade association says the increase in home sales provides hope that the market is improving. Association President Robert Miller says there's still a ways to go, but there are advantages for owners and buyers as prices have started to stabilize while interest rates remained low.