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Ohio Realtors Expect Sellers' Market To Continue

Home for sale sign
Amy Sancetta
Associated Press

March home sale figures for Ohio will be released Monday and regardless of whether the number is higher than the month before, realtors are expecting the current sellers' market to continue.

When it comes to real estate, the market typically goes in cycles. Just ask Karen O'Donnell, president of the Akron Cleveland Association of Realtors.

“It goes down, it comes up, it goes down, it comes up," O'Donnell said.

And yet, for the past year, home prices have pretty much only gone up. What gives?

O'Donnell figures some sellers may have been waiting to see how the new GOP tax law would play out. Others may be holding off selling to see just how high the market will go. Her advice to homeowners?

“If you have a house and you're on the fence about selling it, this is the time," he says.

According to the Ohio Realtors Association, homes are selling at a near-record clip. And O'Donnell says prices could see a dip as the weather warms up and more properties hit the market.

Adrian Ma is a business reporter and recovering law clerk for ideastream in Cleveland. Since making the switch from law to journalism, he's reported on how New York's helicopter tour industry is driving residents nuts, why competition is heating up among Ohio realtors, and the controlled-chaos of economist speed-dating. Previously, he was a producer at WNYC News. His work has also aired on NPR's Planet Money, and Marketplace. In 2017, the Association of Independents in Radio designated him a New Voices Scholar, an award recognizing new talent in public media. Some years ago, he worked in a ramen shop.