Thu December 20, 2012
Home sales up; fiscal cliff worries continue
Greater Cincinnati realtors are waiting to see what happens with the fiscal cliff. They don't want it to harm a recovering housing market.
For 17 months in a row Cincinnati and Northern Kentucky homes sales have increased. Cincinnati Area Board of Realtors President Tom Hasselbeck hopes the upward trend continues.
"It's all a combination of excellent interest rates, eager home buyers, the market is actually shrinking in terms of available homes."
The housing inventory is down 13% in Cincinnati. Home sales are up 24% from November 2011 to this November. Hasselbeck says it's really a belief in the economy that's driving the increase. Homes sales are up five percent in Northern Kentucky. The Northern Kentucky Association of Realtors and others are concerned the Mortgage Interest Deduction could fall off the Fiscal Cliff.