Ohio Market Watch: Home values still lagging pre-recession levels
Over half (56 percent) of Ohio REALTORS observe home values in their area as lower than pre-recession levels, according to findings from the Ohio Association of REALTORS’ December 2014 housing market confidence survey. The findings show 38 percent perceive values as “slightly” lower and 18 percent see values as “much” lower. Further, 20 percent of respondents have noticed no change in values and 24 percent have observed home prices rising higher than pre-recession levels.
Ohio REALTORS continue to remain confident in their expectations for home prices over the next year. The recent survey findings reveal Ohio REALTORS Housing Price Index scores for the month and quarter at 70 and 69, respectively. A score of 100 indicates respondents’ highest expectation for prices over the next year and a score of 0 indicates lowest expectations.
Survey results are based on responses to a monthly survey, designed to capture the effects of the existing economic conditions and trends on the real estate industry, sent to a pool of 1,500 OAR participants. Click here to participate in future OAR Housing Confidence Surveys.
See more at: http://ohiorealtors.org/2014/12/30/ohio-market-watch-home-values-still-lagging-pre-recession-levels/#sthash.P09woeXT.dpuf