Youngstown-Warren-Boardman, OH-PA

There is no doubt that the Youngstown-Warren-Boardman, OH-PA metropolitan statistical area (MSA) has been hit hard by the housing market crash of 2008. However, there are signs that the market is beginning to rebound. In particular, there has been an increase in the number of homes being sold and an increase in prices.

The following are some real estate trends that have been observed in the Youngstown-Warren-Boardman, OH-PA MSA:

1. Home sales have increased in each of the past three years. In 2013, a total of 3,847 homes were sold which was up from 3,258 in 2012 and 2,941 in 2011. This trend is expected to continue as more and more people feel confident about buying a home again.

2. Home prices have also been on the rise over the past few years. The median sale price for a home in 2013 was $112,000 which was up from $105,000 in 2012 and $99,900 in 2011. This trend is also expected to continue as demand for housing increases and inventory decreases.

3. The number of foreclosures has decreased significantly since peaking in 2010. In 2013, there were only 1,056 foreclosure filings which was down from 2,542 in 2010 and 1,964 in 2011. This decrease is due to a combination of factors such as improved economic conditions and stricter lending standards by banks.