Home sales and prices are on the rise in the Dayton region’s housing market but not all parts of the market are where they were before the Great Recession and accompanying home foreclosure crisis.
Here are five things to know about the region’s housing market:
1. In 2018 the number of sales of single-family homes and condominiums rose to 15,955 and an average sale price of $164,566, both higher than pre-recession peaks in Montgomery, Greene, Preble, Darke and northern Warren counties.
RELATED: 2018 Dayton home sales set new records
2. The current sellers’ market drives up prices because there are too few houses on the market for the number of potential buyers.
RELATED: Why the booming Dayton housing market needs more homes for sale
3. New home construction declined dramatically during the recession and afterward. It has not recovered.
RELATED: See how property values in your community have declined since recession
4. Potential buyers are sometimes offering more than the asking price or agreeing to buy houses without inspections, according to real estate agents.
RELATED: How these cities are fighting blight, putting more homes on the market
5. Interest rates have remained low, fueling interest in buying homes.
RELATED: What homes are selling for in your community
How the next recession could affect Dayton
Ready to work with a smart robot? Some Dayton workers already are
‘Magnet for high tech:’ How research drives Wright-Patt’s $15.5B impact
Barr Family Farm is hit by two tornadoes since April 2018
Millions in local road fixes await new gas tax
JOIN our Facebook group - The Path Forward: Dayton - Jobs and the Economy
About the Author