Statewide home sales in Ohio increased 10.4% and regional sales in Northeast Ohio increased 9.1% from April to May 2008, the Plain Dealer reported today.
“Cleveland was the first into this housing mess, and I think the numbers are showing that we’re going to be the first out,” David Sharkey, Vice President of Progressive Urban Real Estate, was quoted in the article.
“When you look at some of these sales prices, they cannot go any lower,” Sharkey added. “People are realizing that it looks like this is the bottom.”
A recent article posted on CNNMoney.com cited the Cleveland metro area as posting nearly 3% increases in home sale prices in recent months. Analysts called Northeast Ohio “the biggest winner” while citing continued drops in other areas that include Las Vegas and parts of California.
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