"We are starting to see some corrections in the market. Prices have inched up and most importantly the number of listings have begun to ease. Buyer's haven't evaporated but the number of listings has been up almost 60% over the norm. Interest rates are easing and in 2008 you may start to see further signs of the buyers market begining to ease off."  Larry Schottenstein, President Revealty

The number of listings added to the market in October was down for the third month in a row, a strong indicator that the market is beginning to correct itself. The 3,578 homes listed in last month is down 6.9% from one year ago. In addition, new listings in August and September were down 8.3% and 5.7% repsectively.

The average price of a home sold in central Ohio in October was $164,844 which is 0.9 percent lower than the average sale price one year ago. The average sale price of a home sold in the first ten months of the year is $173,122, which is 1.5 percent lower than the year to date average last year.

"A Forbes.com study released in early October reported that Columbus Ohio is the third most stable housing market in America and further projects that we?ll see strong price appreciation in 2008," comments Bennett. "As REALTORS®, we know that 2007 has been a corrective year after several years of extraordinary housing activity. We also know, based on our experience, that central Ohio is and always has been reliable and solid when it comes to home values."