According to a national foreclosure blog, home affordability remains unprecedented in Cincinnati, OH. They report continued declines in the prices of foreclosure and other pre-owned homes, as cited by Cincinnati housing analysts.
The last available figures the blog obtained specific to Cincinnati were recorded at the onset of summer, when the median home sales price dropped to $130,000 – a 7% decline from the median sales price at this time last year. It is also believed by Ohio economists said that the region’s housing market will still struggle for the next 18 months, due to the effects of the recession. Is this bad news for the buyer? Certainly not! This implies that there are numerous, excellent deals to be explored in Cincinnati.
Trulia reported similar figures from May to July, with an average listing price of $247,329 and a median sales price of $134,000. Is this a good time to consider buying in one of America’s most beloved cities? We think so! To learn more about homes for sale in Cincinnnati, contact a trusted real estate agent who specializes in the area.
Source: http://www.foreclosurelistingsnationwide.com/