Real Estate Ransom
For years, we have heard from a handful of local legislators that they want to see data backing up the claims of ACAR – and many of our neighboring Realtor associations – that policies like POS are a detriment to the real estate market.
As such, ACAR commissioned a private firm, Strategy Design Partners, to analyze home sale data provided by the Northern Ohio Regional Multiple Listing Service (NORMLS) for Cuyahoga County. Their findings support the Realtor position opposing POS inspections.
Key findings from the study include:
- Total Residential Sales in cities without a POS were higher than those with a POS
- Closing Prices in cities without a POS were higher than those with a POS
- Homes in cities without a POS spend fewer days on the market than those in city with a POS
The bottom line: Point of Sale Inspections do not make sense and hold real estate ransom.