Existing-Home Sales Retreated 5.9% in July. Properties remained on market for 14 days, tying last month’s record-low:
Existing-home sales fell for the sixth consecutive month to a seasonally adjusted annual rate of 4.81 million. Sales were down 5.9% from June and 20.2% from one year ago.
The median existing-home sales price climbed 10.8% from one year ago to $403,800. That’s down $10,000, however, from last month’s record high of $413,800.
The inventory of unsold existing homes rose to 1.31 million by the end of July, or the equivalent of 3.3 months at the current monthly sales pace.
“The ongoing sales decline reflects the impact of the mortgage rate peak of 6% in early June,” said NAR Chief Economist Lawrence Yun. “Home sales may soon stabilize since mortgage rates have fallen to near 5%, thereby giving an additional boost of purchasing power to home buyers.” Read More
REALTORS® Relief Foundation Announces $500,000 Relief Grant for Victims of St. Louis-Area Flooding:
The REALTORS® Relief Foundation announced that $500,000 in disaster relief aid was made available to the Missouri Realtors® after record-setting rain and subsequent flooding recently damaged homes in St. Louis and nearby St. Charles, Mo. Funds will be made available to the public to assist with disaster victims’ housing payments as relief and recovery efforts are expected to continue in the ensuing weeks and months.
“Our thoughts are with everyone in the St. Louis metro area affected by these devastating storms,” said RRF President Michael Ford. “Realtors® serve and care about the communities in which they live and work. When our members are mobilized to assist others who are facing difficult times, the collective impact is immeasurable. The REALTORS® Relief Foundation looks forward to assisting those who’ve experienced unimaginable loss and doing what we can to help these victims pick up the pieces of their lives.” Read More
Election day poll workers now qualify for Core Law credit:
On July 6, 2022, the Ohio Real Estate Commission approved three credit hours of Core Law for any real estate licensee who performs their civic duty as Election Day poll workers on Aug. 2, 2022 or Nov. 8, 2022.
The announcement came today from the new Ohio Division of Real Estate & Professional Licensing Superintendent Daphne Hawk For those Election Day workers that hold an Ohio real estate license to receive continuing education credit. Read More
Montgomery County Treasurer John McManus Speaks at Dayton REALTORS®
Montgomery County Treasurer provided Dayton REALTOR® members with an update on his work at the county, including the collection of property taxes, the foreclosure process and foreclosure auctions. Treasurer McManus gave a great presentation and answered the many questions from the attendees.
Creating opportunities for REALTORS® to engage with elected officials on a personal level is an important part of the Dayton REALTORS® advocacy efforts. If you have not yet attended a legislative talk, we encourage you to do so at one of our upcoming events. Our elected officials appreciate the insight and engagement that they receive from our members during these events and throughout the year.
Upcoming Legislative Speakers (RSVP in the Member Dashboard):
Congressman Michael Turner
October 7th at 9AM
Montgomery County Commissioner Carolyn Rice
October 14th at 9AM
Upcoming RPAC Events (Registration open in the Member Dashboard):
RPAC Road Rally
Dayton REALTORS® staff is continuously engaging with local elected officials and city staff to build relationships and to keep them updated on the latest trends in the real estate industry. This also creates opportunities to find ways our organization can partner with our local communities to enact policies and programs that grow homeownership in the Dayton region.
The committees at Dayton REALTORS® are working to bring a variety of speakers to speak with our membership. Our goal is to create a dialogue between public officials and the Dayton REALTORS and our membership. If you have any questions on how to get involved, how to run for office, or the advocacy work of the Dayton REALTORS please contact Dan Douglas at DDouglas@DaytonREALTORS.org