In Central Ohio, home sales for the first two months of the year are down 1.1 percent from the same period last year, according to new figures released yesterday by the Columbus Board of Realtors. There were 2,178 homes closed in January and February compared to the 2,202 closings during the first two months of 2010. February home sales dipped to 1,128, or 1.3 percent less that the 1,143 homes sold during the same month one year ago.
Why are we pleased at the small decrease in sales this year? At this time last year, the first-time home buyer tax credits were significantly impactine our sales volume. To remain at nearly the same level without that incentive is a positive sign of a strengthening market. Also noted were 1,812 residential homes put into contract in February, 18.7% more than February 2010 (1,527). This also bodes well for March closing activity.
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