Cincinnati & Northern Kentucky Home Sales Up, Foreclosures Down in November

Good news all around on the local housing front today, as two new reports showed that sales keep climbing and foreclosures keep dropping.

First up, CoreLogic reported that foreclosures in the three-state Cincinnati metro area accounted for 2.74 percent of outstanding mortgages in October, a drop from 2.88 percent in September and a decrease of nearly half a point compared to the year-earlier rate of 3.19 percent in October 2011. It was also lower than the national foreclosure rate of 3.06 percent in October.

On the home sales front, the Cincinnati Area Board of Realtors reported a 24 percent jump in sales in November, with 1,546 units changing hands, compared with 1,244 a year ago. The median sale price was $121,250, up 11 percent compared with November 2011′s median of $119,950.

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