Local housing demand increases, prices rise - 21 News Now, More Local News for Youngstown, Ohio -


Local housing demand increases, prices rise

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YOUNGSTOWN, Ohio - If you're looking to buy a home in the Valley, it may be getting more difficult to find these "for sale" signs. And more of them are saying "sold" quicker.

"If you're a buyer and you're trying to find a house and you find one that comes on the market, you better act quick, because we're selling houses, sometimes the same day they come on the market," says Cindy Best, Howard Hanna realtor.

Best says it's been a buyer's market for a long time, but the increased demand for houses is now allowing home owners to sell closer to their asking price.

"You're no longer looking at those super low ball offers and actually considering having to take them," Best says. "You're getting a good price for your home today."

Patrick Burgan of Burgan Real Estate, says while January and February are often slow months for selling homes, this year they have been busier than ever. He also said more buyers are getting the courage to build.

"We're selling lots right now, Burgan says. "We have a development that's going up in Canfield. We have a spec up. We sold it at the open house."

According to the Mortgage Bankers Association, last week mortgage applications increased by nearly 15 percent.

Juan Santiago at Home Savings says consumers are more confident because they are better educated and prepared to buy a home.

"So people know that hey, I have to stay on top of my credit. Maintain a good credit score. So they've done that," Santiago says.

Realtors think the Shale Boom and overall job economy picking up have people relocating to this area.

"My clients are saying, 'Cindy, you have no idea what's going to hit you.' So I hope they're correct in that," Best says.

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