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.
2. The current sellers’ market drives up prices because there are too few houses on the market for the number of potential buyers.
3. New home construction declined dramatically during the recession and afterward. It has not recovered.
4. Potential buyers are sometimes offering more than the asking price or agreeing to buy houses without inspections, according to real estate agents.
5. Interest rates have remained low, fueling interest in buying homes.
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