While new home sales fell by 13% in July nationwide that wasn't the story in the Akron area for the same month..
Tony Deluke, President of the Akron Area Board Of Realtors, tells AkronNewsNow "As opposed to last year we're up 30.9% in closed sales, and year to date we're up 7.6% ."
Deluke says sales were strong last month. " All our realtors are really busy, showing properties, listing properties. Our inventory and new listings went up, and that hasn't happened in a while."
Deluke says homes are selling faster and so far increasing interest rates have not had an impact on local sales. He says it's still cause for concern for the future, but mortgage interest rates are still well below pre-recession levels.
He's positive about sales the rest of the year as well. While first time home buyers stayed away from home buying across the nation as interest rates rose, the Akron area again bucked the national trend. Deluke says local realtors have been selling homes to first time buyers and those moving up from starter homes.