Local homes sales rise 8.6% in December

CINCINNATI, OH (FOX19) - Local home sales were 8.6 percent greater in December than in November, according to new statistics from the Cincinnati Area Board of Realtors.

The Board of Realtors says 1,197 units were sold in December, higher than the 1,102 total in November. Last year, December sales were weaker than November by 17 percent.

"Home sales are headed in the right direction," said Pete Kopf, president of the Cincinnati Area Board of Realtors.

Kopf says the reason for the increase is that home prices have stabilized, interest rates are going up and demand for home ownership is on the climb.

Average home sale price for December was $160,554, up 4.9 percent from the same month a year ago.

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