January 2022 Greater Cincinnati Luxury Real Estate Market Report
Fewer luxury homes sold in January 2022 compared to December 2022. Overall inventory of luxury homes available for sale also saw a decline in January. Median price stayed about the same and as Federal Reserve actions to increase interest rates take effect the real estate market should see a further slowdown as well.
- Housing Inventory Piles Up and Construction Costs Spike - With supply chains having major issues around the world new home construction costs are increasing. Buyers are also starting to sit back and not chase prices.
- Pending Home Sales In December 2021 Decline Unexpectedly - With interest rates rising along with housing prices fewer buyers are stepping forward to buy a home.