March pending home sales higher year-to-year

Pending Home Sales
AP Photo/Paul Sakuma/File

COLUMBUS, Ohio (WDTN) – Pending home sales in Ohio are slightly higher in March from the level during the month a year ago and rose sharply from last month, according to the Ohio Association of REALTORS.

“It appears that home buyers were eager to shake off the winter doldrums and kick-start the traditional spring home buying season,” said OAR President Chris Hall. “The uptick in home purchase contracts in March is welcomed news following a three month slowdown. It’s evidence that we’ve entered into a more balanced marketplace, one that will see variances in activity based on current conditions.”

A pending sale or a sale “under agreement” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.

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