The pending home sales index in the U.S. dropped a record low at 21.8 percent in April, according to National Association of Realtors.
But while the index, which measures signed contracts on existing homes month over month, paints a bleak picture, local numbers appear more promising.
According to Howard Hanna Real Estate Services, Ohio laid claim to the following real estate metrics in April:
- Closed home sales down 18.6% over home sales in April 2019
- Average closed sale prices were up 5.6% in April ($200,887) compared to April of 2019 ($190,184)
- Closed home sales from January through April (41,402) were down 0.3% from sales during the same time period in 2019
Meanwhile, Cuyahoga County possessed the following numbers:
- Average closed April home sale price ($152,500) up 11.4% over April of 2019
- Average Closed Year To Date home sale price ($143,000) up 7.9% over the same time period last year
- Pending Year To Date residential home sales up 3.6% (5,155) over the same time period in 2019
- Closed Year To Date residential sales up 5.4% (4,309) over the same time period last year.