In many markets in Ohio, real estate supply has outstripped demand significantly. This is forcing investors in those markets to slash their prices to get out of the property. In today’s article,
The Columbus, OH real estate market is one example of an area where supply has overtaken demand. Over the past few years, investor buyers came in from all over the country to buy properties in Columbus, OH. The perception was that market appreciation was happening so rapidly in the city that virtually anyone could come in and buy a house at near full price and then expect to sell it at a profit once construction was completed. For a few years, this strategy worked simply because there was more demand in the market than supply.
In most metropolitan areas in Ohio, demand is driven by job growth which brings in new workers who need housing. This is why there is high demand for Indian Lake property for sale. The technology boom of the late 1990s created significant job growth in Columbus, OH. By the early 2000s young up-and-coming technology workers were driving a retail housing boom inside Columbus, OH.
But as time went on, more houses were … Read More