Economy
11:43 am
Tue January 22, 2013

2012 good year for local home sales

Home sales in Cincinnati ended last year at the highest level since 2007.  The Area Board of Realtors says closings were up 12 percent from 2011.  December home sales rose more than 5 percent compared to the same month a year ago. 

"2012 has proven to be our best year for home sales over the past five years.  The continued upward momentum of Cincinnati home sales is a strong indicator that our local economy is recovering," said Kevin Kelly, president of the Cincinnati Area Board of Realtors.  "Looking forward into 2013, if interest rates remain at historic lows and the economy continues to improve, the housing market will hopefully continue its positive momentum."

2012 was also a good year in Northern Kentucky.  The Association of Realtors says homes sales were up nearly 15 percent, and last month they rose about 4 percent. 

Both groups say December was the 18th consecutive month of increased sales.