Tag Archives: Ohio unemployment rate

Ohio Unemployment Rate Continues to Drop

Posted on 01/22/2012 | Leave a comment

Ohio’s unemployment rate dropped again for December, going from 8.5 to 8.1. That compares quite favorably to the 9.5 rate in December 2010 before the new governor, John Kasich, took office.

A year ago 560,000 people were unemployed. In November 2011, 496,000 were unemployed, and it further dropped to 469,000 in December 2012.

Per the report, the rate decline from 8.5 to 8.1 was the largest one-month decline in almost 30 years. Let’s hope the Governor continues his successes to bring or keep businesses here in Ohio which will certainly help our housing market.

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Posted in Central Ohio

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A Decade of Home Sales in Central Ohio

Posted on 01/03/2012 | Leave a comment

The end of the year means it’s time to look back to see how we did in our local real estate market. Average prices of single-family homes “seem” to have turned the corner in most school districts – some moreso than others.

2002-2011 Avg Prices homes sold for Jan-Dec in central Ohio

Click graph to enlarge, then click again

The discouraging news is the severe downfall in the number of homes sold since 2009. The data for the years 2010 and 2011 includes only “normal” sales and does not include homes sold as a short-sale or REO-owned.

2002-2011 No Homes Sold Jan Dec in central Ohio

Click to enlarge, then click again

Having the real estate industry get back on its feet is critical to improving the employment rate since the NAR has calculated that one job is created for every 2-3 homes sold. Additionally, people need full-time jobs and decent paying jobs in order to afford a home. Gov Kasich has been laser focused to keep companies in Ohio or bring new businesses here. As such, the state’s unemployment rate has declined since he took office and that may be reflected in the uptick of the number of homes sold in 2011. Hopefully, we’ll continue to see number of homes sold continue to increase for 2012.

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Posted in Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Home prices, Homes, Housing stats, Worthington Ohio

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