MAUMEE – The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts, according to a news release by Northwest Ohio Realtors.

Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development.

Locally, new listings increased 2.0% for single family homes. Average sales price increased 2.7% to $191,218 for single family homes and days on market decreased 22.5% for single family homes.

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of Realtors. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.

Northwest Ohio Realtors has over 2,000 members dedicated to serving the needs of home sellers and buyers in Northwest Ohio and the surrounding area, including Wood, Lucas, Fulton, Henry, Defiance, Williams, Hancock, Wyandot, Paulding and Putnam counties.

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