New Albany Ohio is following the same trends seen in the national economy with respect to housing. Home sales in New Albany for the 1st two months of 2009 dropped to the lowest level we’ve seen in the past 10 years. As you can see in the chart below, unit sales are off 48% of the 2008 pace and 55% off 2006, the highest recorded year.
A survey by Reuters of 47 professional forecasters, predict the economy will begin to recover in the second half of this year. That said, we are seeing homes sell right now, that are priced in front of the market and in excellent condition; just not as many as in years past.