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Residential Real Estate Market In Ohio Robust Despite Pandemic

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Robert Kneschke, Shutterstock.com
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The COVID19 pandemic has hurt a lot of businesses but not the residential real estate market in Ohio. And there are a couple of factors that are at play here.

Ohio Board of Realtors President Chris Reese says she’s never seen a real estate market like this one.

“Low, low inventory, a high demand because the interest rates are so low. Many banks are under 3% and that’s just a record that we haven’t seen," Reese says

Reese says more listings are needed statewide to keep up wuth demand. She says some properties are in contract within hours of being listed. She says in 2007, there were 26,000 listings in Central Ohio - there are 2,600 now.