Cash For Houses Dayton OH

[Cash For Houses Dayton OH]

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[Cash For Houses Dayton OH]

Dayton-area housing market impacting potential homebuyers

The Dayton area has become an increasingly difficult housing market for first time homebuyers due to the rise in mortgage rates.

The impact of recent mortgage rate fluctuations in the Dayton area is evident. Recent housing data reports show that from December 2021 to December, the median home price rose by a stunning 4%.

The Dayton region has been facing a housing shortage due to low inventory, yet the ongoing demand for homes remains strong. As such, this rising interest in acquiring property has caused home prices to continue climbing upward.

Greg Blatt, President of Dayton Realtors, recently informed 2 NEWS that an elevated demand for homes exists in the market relative to current supply levels; therefore, home prices have grown higher for prospective buyers.

“Right now, we’re running about 20 percent of the market inventory. Demand is staying about the same. That means home prices are increasing, as we go forth,” Blatt said.

Unlike in the recent past when house prices increased exponentially year-over-year, this upcoming season is likely to bring a more modest single-digit rise. Blatt tells 2 NEWS, “I think that’s indicative of the increase interest rates. Again, we’re seeing a lower velocity of homes being sold, but they’re still in high demand.”

If you are a first-time homebuyer, the key to ensuring that your buying process goes as smoothly and stress-free as possible is twofold: confirm you’re preapproved for purchasing a property AND consult with an experienced real estate agent.

[Cash For Houses Dayton OH]

Cash For Houses Dayton Ohio