New homes too pricey, too distant for many in central Ohio

New homes too pricey, too distant for many in central Ohio

 

 

Rising costs and changing demand have left homebuilders struggling to capitalize on the biggest housing market that central Ohio has ever seen.

Last year, 2,607 new homes were sold in central Ohio, the best year since 2007, according to Binns Real Estate Services, which tracks the central Ohio housing industry.

But those homes accounted for only 7.9 percent of all central Ohio homes sold last year, the second consecutive year that new homes have accounted for less than 8 percent of the housing market, according to a Dispatch analysis.

New homes have accounted for less than 10 percent of central Ohio home sales for eight straight years, despite an enormous increase in demand and a shortage of competing new homes on the market.

 

 

____________________

Read full story here.