Mid-Missouri Business Week: second-quarter home sales

Second-quarter home sales for the city of Columbia showed another strong month of June, but little change from 2017.

ABC 17’s Kirstie Crawford sat down with Brian Toohey, the CEO of the Columbia Board of Realtors. Toohey said the increase in home sales each June is likely connected to each upcoming school year.

The average selling price for Columbia homes rose by 3.6 percent in June, but they are also spending nearly 20 percent more time in the market.

Toohey said most sales in the last 18 months have been in the entry- and median-level homes.

“We’re starting to see more homes on the market. We’ve kind of suffered in Columbia with not having enough inventory based upon the demand. In the last few months, we’ve seen that inventory number start to climb up a little bit,” Toohey said.