In a statement reflecting the current state of Ohio's real estate market, broker Jose Medina noted that while it's still a strong sellers' market, it's less fierce than previous years. The number of active single-family listings has decreased significantly compared to pre-pandemic levels but is an improvement over the pandemic's lowest point. Ohio's real estate professionals attribute the ongoing inventory shortage to rising interest rates and concerns about equity in new homes. This situation discourages many prospective sellers from listing their homes, even though they may have favorable equity conditions.
"Although local Ohio real estate professionals are glad to see more inventory on the market, it is not nearly enough to satiate demand."
"Medina attributes some of this to the state's inventory situation. While not necessarily good, it is better than it was at the height of the pandemic market."
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