2016 was the Ohio housing market’s busiest year since 2005. Home purchases increased by 7.5 percent just from 2015, helping 2016 become a remarkable year of record sales gains and record average prices.
Even though December slowed the pace, median sale price during the month was still up 4 percent from the same month in 2015. According to the chief economist for the trade association, solid growth throughout the year in addition to low mortgage rates was the major contributor to the year’s success.
Even with rates surging after the election, buyers are still out looking to purchase homes quickly. The problem lies not with the rates but with the black hole residing in the real estate industry- the lack of available homes to purchase. It is estimated that the country only has a 3.6-month supply of available housing, causing a lopsided effect in the industry. For there to be a good balance between buyers and sellers, there should be a 6-month supply.
A woman who knows exactly how the market works and has ample knowledge of the industry is Tammy Mazzocco. Tammy sells real estate in Delaware, Licking, Fairfield, and Franklin, Ohio counties. She works with the prestigious Judy Gang & Associates in Pickerington, Ohio.
Tammy Mazzocco became a real estate agent in 1995 while she worked for a condominium management company, Scotland Yard. After gaining experience there, Tammy Mazzocco became a multi-site property manager at T&R Properties. In 1998, she became a licensed assistant for RE/MAX, where Tammy Mazzocco worked until she decided to make real estate her full time career in 1999. She’s been working passionately at it ever since.