The Morning Journal (Lorain, OH)
November 2017 Pending Home Sales Index for Ohio
by Chad Schneider 2017 President, Lorain County Association of Realtors®
Ohio REALTORS® reports the number of singlefamily homes and condominiums put under agreement in November 2017 reached a best-ever level for the month, increasing 1.8 percent from the level posted during the month a year ago.
Ohio’s November Pending Home Sales Index of 183.1, a forward-looking indicator based on contract signings, increased 1.8 percent from November 2016 (179.8). Activity in November rose 0.3 percent from the pace of agreements reached in October 2017 (182.5).
“Across Ohio, consumers are continuing to display a strong interest in making a housing move,” said Ohio REALTORS® President Pete Kopf. “The number of homes put under contract in November not only surpassed the bestever mark for the month, it reached an all-time high for any month.
“The real estate profession is hopeful that we’ll continue to build upon the positive momentum that’s been established moving forward.”
The October 2017 results (182.5) previously served as the best alltime month, since the organization began tracking pending sales in 2008.
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, November’s Index score of 183.1 marks an 83.1 percent increase.
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, November’s Index score of 183.1 marks an 83.1 percent increase.
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.
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 member- ship 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.