Cindi Andrews reports:
Home sales continued their growth in Greater Cincinnati and Northern Kentucky last month.
Sales were up 24 percent in Southwest Ohio compared with August 2012, according to the Cincinnati Area Board of Realtors. Year-to-date, home sales are up 23 percent compared with the same period last year.
Average home prices have increased 6.5 percent year-to-date to $171,000, compared with the same period in 2012.
Sales in Northern Kentucky grew 15 percent in August vs. the same month last year, the Northern Kentucky Association of Realtors reported. Sales are up 17 percent year-to-date.
The average price has increased 5.9 percent year-to-date, to $155,000.
The Cincinnati Realtors group said the rise in interest rates hasn’t affected sales: Local mortgage rates in August averaged 4.54 percent for a 30-year fixed rate loan, up from 3.53 percent a year ago.
Nationally, home sales increased 1.7 percent from July to August, according seasonally adjusted figures from the National Board of Realtors.
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