Fluttering interest rates have helped to temper the pace of Ohio home sales in July

The Ohio Association of Realtors has reported that the state’s realty agents sold 13,737 single-family homes or condominiums in July, down 0.1 percent from last July’s record-setting pace of 13,747.

The average price of homes jumped 1.1 percent to $157,658 for the month, from $155,974 in July of 2003.

“Fluctuations in mortgage interest rates and an uncertain economic environment may have an effect on sales as we move into the second half of 2004,” Barbara Lach, an Upper Arlington Realtor who serves as president of the association, said in a press release. She also said the solid start to the year ensures that it will rank among the best in terms of sales.

For the first seven months of the year, home sales were up 9.3 percent to $79,585, from $72,835 in the first seven months of 2003. The average home price hit $150,818 in the first seven months of 2004, up 1.7 percent from $148,246 in the same period of 2003.

The Columbus Board of Realtors reported last week that home sales rose 3.5 percent in July and 12.7 percent in the first seven months of the year.

The Ohio association gathers its transaction totals from multiple listing services across the state and includes the sale of new and existing houses and condos. The tally includes only transactions reported to the listing services and doesn’t include residences sold by their owners and homes sold by builders.