Pittsburgh Area Sees Strong Home Sales For 2nd Straight Year (text from Jan 13 WESA broadcast)

"Home sales in the Pittsburgh region jumped 7.2 percent last year compared to 2012. Barbara Kohl, operating officer of the West Penn Multi-List, said the numbers are “surprising” because the previous year also had “strong growth.” “Everything clicked, consumer confidence came back, interest rates stayed low; the only problem is we don’t have enough inventory,” Kohl said.

 

Simply put, more houses sold in the 13-county region last year than 2012, buyers scooped them up more quickly and paid more for them. Last year 3,233 homes were purchased, compared to 36,588 in 2012, at an average price of $168,380 — up about $2,500, and they were sold more quickly — 85 days on average versus 93 the previous year. According to Kohl, the shortage of available homes for sale includes existing stock and new houses...

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