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.