July 2017 Pending Home Sales Index for Ohio
Chad Schneider, 2017 President, Lorain County Association of REALTORS®
Ohio’s July Pending Home Sales Index of 153.5, a forward‐looking indicator based on contract signings, increased 0.4 percent from July 2016 (152.9). Activity in July fell 6 percent from the pace of agreements reached in June 2017 (163.2).
“The Ohio housing marketplace is continuing to exhibit tremendous resiliency, as the number of homes put under contract in July reached an all‐time high for the month,” said Ohio REALTORS® President Pete Kopf. “While the market continues to face the ongoing challenge of tight inventory levels, the brisk pace of contract signings is positive indication that the confidence level among home buyers remains positive.”
Compared to 2008, a historically healthy market that marked the end of five consecutive record years for existing home sales and the onset of the recession, July’s Index score of 153.5 marks a 53.5 increase.
A pending sale or a sale “under agreement” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such. Refer to the following report to view the pending home sales index and methods.
Ohio REALTORS, the largest professional trade association in the state with more than 31,000 members, is the only organization that compiles this state wide information from selected Multiple Listing Services each month. The tracking of “pending sales” provides reliable information about where the market is heading in coming months.
If you are thinking about buying or selling a home, contact a professional REALTOR® today. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support. Lorain County offers a wide variety of housing choices.
Do your research and take advantage of the many housing opportunities right here in Lorain County and Northeast Ohio. We are fortunate to live in a region with such vast offerings. From big to small, country to city... it's available right here! Our proximity to highway and freeway access provides great commute options both east and west! Contact your LoCAR REALTOR® member today.
The Lorain County Association of REALTORS® is an industry trade association representing licensed real estate sales agents in Lorain County who are members of the National Association of Realtors® (NAR) and the Ohio Association of REALTORS® (OAR). As members of NAR these licensed real estate agents have earned the REALTOR® designation and they pledge to protect the rights of homeownership and conduct their real estate business abiding by the NAR Code of Ethics.
The Lorain County Association of REALTORS® is one of more than 1,200 local boards and associations of REALTORS® nationwide that comprise the National Association of REALTORS®. The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing nearly one million members involved in all aspects of the residential and commercial real estate industries.
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics. Not all real estate sales agents are REALTORS®. All REALTORS® are members of NAR along with their State and Local Association.