This is the best Cleveland housing market in a decade, says realtor

CLEVELAND, OH (WOIO) - Realtors are calling the Cleveland housing market the best they've seen in more than 10 years.

Some houses are going under contract the day they're listed, which makes it difficult for buyers who want to take their time.

Looking for a house to call her own, Nina Dvorak said she's having a tough time getting her hands on a home.

"I've had a lot of things fall through," she said. "It's so hard. It's a seller's market, so everything is going pretty quickly."

Dvorak has been renting for years. Now, she wants to make an investment.

"It's exciting, but you have to jump on it as soon as you see something," she said.

Many houses in popular communities are selling a day or two after they're put on the market. Some are going for the listed price, while others are selling for even higher.

Realtor Timothy Damiano has been licensed for 11 years. He hasn't seen a seller's market like this since before the economy took a dive.

"If you plan on going home and sleeping on it, you may not sleep in it," Damiano said.

He said it's important buyers are prepared. He said people need to be pre-approved, know exactly what they want and know what they can afford. He said, too often, buyers walk away and when they come back the house they want is gone.

Damiano blames a few things:

  • Too few homes
  • Too many buyers
  • Millennials coming into the mix

"We're seeing young adults from the ages of 23 or 24 on up to 29 years old that are buying homes, and that's something that we didn't have before," he said.

Those are buyers, just like Dvorak, who are ready to make their first big purchase.

"It's a big chunk of change, so you have to make sure you're making the right investment for your future," she said.

Dvorak hopes to find a house of her own soon, because Damiano believes it'll only get tougher for buyers to get their hands on a home.

Home sales in March and April were the best they've ever been in the state since the Ohio Association of Realtors began tracking data in 1998. Statewide, they're optimistic the market is going to continue to climb.

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