THE COLUMBUS DISPATCH: Central Ohio homebuilders far shy of meeting high demand
March 11, 2018 – by Jim Weiker – With demand for central Ohio homes at record highs, and the number of homes on the market at record lows, the stars should be perfectly aligned for central Ohio homebuilders. But builders haven’t gained traction since the housing recession of a decade ago for one primary reason: Most buyers can’t afford what the companies are building.
The median price of a new home in central Ohio topped $350,000 last year — almost twice the median cost of an existing home. That gap between new and used is one of the highest in the country and well above the national gap of 35 percent, according to Metrostudy, a firm in Washington, D.C., that tracks the building industry.
“Prices are just really on a tear for new homes in Columbus,” said Mark Gianopulos, director of Metrostudy’s Midwest region.
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