New construction home sales in February 2019 were as high as those in February 2018. However, as the year progressed new home sales in March through June declined to levels last seen in 2015. It seems that new home builders in the Cincinnati area were anticipating a slow down in the real estate market in 2019 and adjusted their activity based on this prediction. However, moderation of the seller's market has yet to materialize. In fact, this reduction in the number of new homes available may be increasing competition for existing homes and helping to keep the seller's market churning along. Perhaps new home builders were too cautious in projecting demand for 2019.
