The most common question we are asked is “How’s the Cincinnati housing market?”  We are constantly keeping our ears to the ground and want to provide you with both the macro and micro view of the economic issues of housing.  If you are looking to buy or sell, remember that all housing is local, so it is most important to understand the sales picture in your immediate neighborhood.

 
It seems as though the housing statistics are pointing to the end of the housing downturn and that the market is about to turn the corner.  Why do we say that?  Major economic statistics are exhibiting a level of stability and positive trends are showing up:
 
Households are gradually paying off debt.
Credit is more accessible.
Consumer confidence has rebounded significantly since June 2011.
Employment trends appear to be improving.
Builders are seeing increased demand to build new homes
Affordability is rising because of rock-bottom interest rates and housing price declines.
 
Indications show that the broad economy and the housing market are both moving towards positive growth.  Some issues still affect the outlook…slow global economic growth, possible recession in Europe, and fiscal and political uncertainty here at home.  However, overall we see improving prospects for 2012.
 
Statistics are positive for buying here in Cincinnati.  The latest analysis was produced by the National Association of Homebuilders. Assuming a 10 percent downpayment and mortgages at "today's mortgage rates", 75.9% of all homes sold nationwide were affordable to home buyers last quarter. Even better, Cincinnati homes were affordable by 88.4% of Cincinnatians.earning the area's median income.
 
The outlook indicates gradual, but steady, improvements in the economy and the housing market because of the low interest rates and brightening job market.  Inventories have been going down.  Contact the Cincinnati Team directly and we will research the micro view of your homes’ neighborhood. Mary Elsener and Saralou Durham are here to meet your housing needs and wants!