Ohio’s housing sector has reported the year 2016 as the best year after 2005. The performance of housing market was even better than the country average. While the country experienced 7.5 percent growth comparing to 2015, many areas of Ohio including Northeast Ohio experienced growth above 8 percent. Ohio-based realtor Tammy Mazzocco sees that the trend would continue as the sales surged even during winter.
The sales during December was 2.8 percent more than 2015 of the corresponding period. The average price of the unit stood at $159,531 last month, which shown a healthy improvement of 4.8 percent corresponding to the previous year period. Due to the upward trend, there are reports confirming shortage of supply in the market. The year saw low mortgage rate, and it combined with a good number of job creation throughout the year, created the demand for housing, and hence market went up.
Tammy Mazzocco expects that the mortgage rate would remain low in 2017 and hence there is a steep growth in demand can be expected in the coming months. Though the year saw some fluctuations in lending rate during U.S. Presidential election, it got stagnated again and still at the lower level. Especially considering the demand in Ohio, finding the right property will be a challenge for the buyers in the coming months.
“A highly experienced realtor can only help the customers to get the property according to their expectations,” says Tammy Mazzocco. Since she has more than 20 years of experience in working with both residential and commercial sector, many of her clients use her opinion and expertise to fit their requirement into the market supply.
Tammy Mazzocco, became a licensed real estate agent in 1995 and during her career, she worked with Scotland Yard Condominiums, T&R Properties, RE/MAX, Judy Gang & Associates, etc. She contributes her success to her ability to understand the clients’ expectations and requirements and convert it into reality.For more info, visit her Facebook profile.