June 2022 Greater Cincinnati Real Estate Market Report

Average days on market decreased from May 2022 and the amount of luxury homes sold in the Greater Cincinnati area increased.  Inventory increased as well from May 2022.  The national average for a jumbo mortgage rates used to buy a luxury home is 5.5% according to Bankrate.  Traditional mortgage rates are a slight bit higher.  The luxury market has proven resilient in light of the interest rate increases amd there are still buyers out there ready to buy homes.  If a recession sets in the numbers may change.

• Inventory of Homes For Sale Jump In Many Markets - With fewer buyers wanting to buy with higher mortgage rates homes for sale are starting to increase.
• Rise In House Prices - From Q1 2021 to Q1 2022 housing in the US experienced a 18.7% increase in value.