February 2018 Pending Home Sales Index for Ohio

Janet Beane, 2018 President, Lorain County Association of Realtors®

Janet Beane 2018 LoCAR President

Ohio REALTORS® report the pace of single‐family homes and condominiums put under agreement in February 2018 decreased a marginal 0.8 percent from the rate posted during the month a year ago.

Ohio’s February Pending Home Sales Index of 144.0, a forward‐looking indicator based on contract signings, fell 0.8 percent from February 2017 (145.1). Activity in February rose 1.2 percent from the pace of agreements reached in January 2018 (142.4).

“The outlook for the Ohio housing market remains positive, as the number of homes put under contract in February nearly kept pace with activity levels posted a year ago,” said Ohio REALTORS® President Tiffany Meyer. “Ohio’s REALTOR® community understands that the foundation of our marketplace is strong and able to withstand the traditional monthly ebbs and flows that occur.

“We look forward to continuing to build on the momentum that has been established as we move into the traditional spring buying season.”

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, February’s Index score of 144.0 marks a 44 percent 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.

Ohio REALTORS, the largest professional trade association in the state with more than 32,000 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.

Do your research and take advantage of the many housing opportunities right here in Lorain County. We are fortunate to live in a region with such vast offerings. From big to small, country to city... it's available in Lorain County! Our proximity to highway and freeway access provides great commute options both east and west! Contact your LoCAR REALTOR® member today.

The National Association of REALTORS® is known as “The Voice of Real Estate.” NAR members are outspoken consumer advocates actively engaged in all elements of the residential and commercial real estate industries. REALTORS® support the American Dream of homeownership while working to create stronger, more vibrant communities in which to live and work.

As an organization, NAR is leading the drive for home ownership in many ways. NAR encourages all REALTORS® to become aggressive advocates for successful housing opportunities for families and businesses throughout the U.S. Remember, Home Ownership Matters. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support.

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.