Local home prices prices rose last month as sales continued to show strong growth and inventory continued to lag.
Median prices increased 6.6 percent in April in Southwest Ohio vs. April 2012 and 4 percent in Northern Kentucky, according to local Realtors groups.
Southwest Ohio sales saw a 24.1 percent increase in sales from April 2012, with 1,919 closings, according to the Cincinnati Area Board of Realtors. That’s in spite of the fact that the number of homes for sale was down 15.3 percent, with 10,148 listings as of April 30.
In Northern Kentucky, 469 homes sold, a 17.25 percent increase over year-ago numbers, the Northern Kentucky Association of Realtors reported.
Low inventory continues to limit sales in Northern Kentucky, according to the association, with listings down 5.9 percent vs. April 2012 even though 914 homes were listed in April — the most in a single month since March 2011.
Nationwide, April home sales were up 9.7 percent from April 2012, and on a seasonally adjusted basis were up 0.6 percent from March.