ATTOM’s Real Estate Sales Trends for Ohio

Now that buyers and sellers sense that the COVID-19 pandemic is in the rear view mirror for the most part, many in Ohio are flocking back to the cities to find homes to buy and rent. In Columbus, Ohio, the state’s capital, home prices are skyrocketing as in-state buyers and remote real estate investors are buying up property. Columbus is an attractive city because of the affordability of its real estate in comparison to other cities nationally. Also, the city has a diversified economy with hubs in technology, finance, and education.

In the state overall, low interest rates have brought eager buyers to the market inching up home prices. Ohio has a relatively low cost of living, and home prices are below the national average, which is expected to remain the status quo. Ohio also has a low unemployment rate, and foreclosure activity on mortgages are also low compared to the rest of the nation. That trend could change as the end of the COVID-19 financial relief takes effect and home foreclosures for federally backed loans are no longer suspended.

Ohio has a robust economy, however. Powerhouses like Wal-Mart, Kroger, the Cleveland Clinic, Ohio State University, and Mercy Health are all big employers that help to boost the real estate industry. Now that many homeowners can live wherever they want and still work for great companies, real estate is expected to remain in high demand.