North Columbus News

On April 2, 2025, Ohio REALTORS President Michelle Billings participated in a live conversation with Lisa Rantala from ABC6 On Your Side. The discussion centered on the real estate market in Ohio, covering key issues such as housing inventory, home prices, and buyer incentives.

Michelle addressed the recent decline in housing sales reported by Ohio REALTORS, based on data from Multiple Listing Services. She linked this downturn to seasonal trends and expressed confidence in a robust spring market to come, partly due to mortgage rates stabilizing.

Despite being a rapidly growing region, Central Ohio continues to face challenges in meeting housing demand. According to Michelle, the housing shortage has developed over time due to factors such as increased construction costs, restrictive zoning, and high interest rates. She noted Ohio is currently lacking around 100,000 homes, highlighting the need for additional housing to stabilize prices.

Regarding zoning reform, Michelle mentioned that local zoning rules differ greatly, making a universal solution unlikely. Nonetheless, she stressed the role of legislative advocacy and urged community members to engage with local governments to promote zoning changes that could ease building processes and boost housing supply.

Michelle highlighted a shift towards a balanced market, offering buyers more negotiating leverage, including potential seller concessions and access to initiatives like Ohio Homebuyer Plus. This program, introduced by Ohio Treasurer Robert Sprague in January 2024, assists first-time buyers with down payments.

Her advice for potential buyers: if you are considering purchasing real estate in Ohio, collaborate with a REALTOR. A REALTOR can help navigate the market, explore financing options, and guide you throughout the buying process.

The full interview with Michelle Billings is available on ABC6 On Your Side.