Top Housing Markets of 2015

The 2015 housing market was one of the strongest since before the recession, and 2016 looks to do even better. An ongoing problem, especially within the more urban markets, is a historically low inventory of available homes for sale. This has been a problem for several years now, as construction has failed to match demand.

That lack of inventory really shows up in the yearly % change chart. Few urban markets have increased year over year, as they have a much more limited supply of housing, even as demand for urban housing has increased.

Let’s see how this impacted prices.

While urban markets were not necessarily the most expensive compared to suburban, more of them were generally towards the top half of price increases last year.

Columbus Slowly Becoming Ohio’s Largest Job Market- In One Graph

The Columbus metro has long been Ohio’s 3rd largest labor market, but that seems to be changing over time.

The January 2015 labor force jumped to a record high, and if trends hold, may pass the other 2 Cs by the end of the year.

Columbus Housing Market Update- August 2014

For this update, I’m going to do things a bit differently. In previous updates, I have done long ranking lists and it got to be a bit overwhelming. So starting with this update, I’m going to do more charts instead.

In any case, August continued the year-long trend of home sales being down, with the month coming in at more than 11% off from the same time last year. Prices, however, were up more than 6% to reach a monthly record. There continues to be a supply problem, which is the main mechanism driving both lower sales and higher prices.

Now on to the charts!