Housing sales drop in November

The number of existing single-family houses and condos sold in the Columbus region weakened significantly in November even as prices increased.

The Columbus Realtors reported Monday that the number of houses sold through the trade association’s Multiple Listing Service declined nearly 11 percent last month from a year earlier. November’s performance contrasted with October’s, when sales surged almost 10 percent.

Milt Lustnauer, the association’s 2014 president, said selling prices remained strong, and the number of days houses sat on the market before they found buyers dropped.

“It’s a good sellers’ market,” the broker-owner at Re/Max Premier Choice in Upper Arlington told me.

Looking forward to 2015, Lustnauer said industry economists expect moderate price appreciation and mortgage interest rates to rise.

Affordability right now is pretty strong, get in the market while you can!

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