First, Thank You to everyone that has helped by contacting your state representatives to oppose Congress in removing the Mortgage Interest Deduction (MID) for homeowners. Due to our grass roots efforts and your actions we have 162 Representatives from the House of Representatives supporting H. Res 25 to not further restrict the MID! Let's continue working to keep our mortgage interest deduction, and stop the mortgage reform from stalling our economy—we are all working too hard to get it to rebound!
Housing activity is increasing! That is a good news for stability here in Central Ohio. We have a higher number of homes that went on the market in May 2011 than in May 2010, but we have a higher number in-contracts too! This indicates a healthy sign for our housing market. Home prices have inched up from April 2011 to May 2011 as well. The May 2011 average sale price is up 2.6% over the the average sale price for April 2011. And, the number of closings from April 2011 to May 2011 were also up—15.7% more closings. Another positive sign is the average sale amount and number of closings are up over the April and May 2009 numbers. April and May 2010 did slightly better (4.7% better than 2011) but this spike was due to the government's Home Buyer Tax Credit program that had a deadline of being in-contract by the end of April and closing by the end of June 2010.
So, let's all keep working together and keep Central Ohio a great place to enjoy life!
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