March 2018 Pending Home Sales Index for Ohio

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

Janet Beane 2018 LoCAR President

Ohio REALTORS® reports the number of f single‐family homes and condominiums put under agreement in March 2018 declined a slight 0.6 percent from the level posted during the month a year ago.

Ohio’s March Pending Home Sales Index of 159.8, a forward‐looking indicator based on contract signings, fell a negligible 0.6 percent from March 2017 (160.8). Activity in March rose 11 percent from the pace of agreements reached in February 2018 (144.0).

The pending sale index posted during the first quarter 2018 (143.4) decreased 3.3 percent from the level posted during first quarter 2017 (148.3).

“The outlook for the Ohio housing market remains bright, as the number of homes put under contract in March kept pace with activity during the month a year ago,” said Ohio REALTORS® President Tiffany Meyer. “The marketplace experienced a significant rise in activity from February levels, an indication that the desire for homeownership remains strong throughout Ohio as we enter the traditional spring home 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, March’s Index score of 159.8 marks a 59.8 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 complies 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 REALTOR® today. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support.

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 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 excited partner with Lorain County Habitat for Humanity® for a charity golf outing that will assist Habitat’s work. Habitat for Humanity is a nonprofit ecumenical Christian housing ministry seeking to eliminate poverty housing and homelessness throughout Lorain County and is an affiliate of Habitat for Humanity International, a worldwide ministry supported by the National Association of REALTORS®. This charity golf outing will be held on June 11, 2018 at Avon Oaks Country Club which is a private golf club located in Avon. Your involvement provides a great opportunity for your company to receive community exposure and help to support a very worthwhile cause. If you are interested in golfing or sponsorship, please email: [email protected].

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.