Northeast Ohio
Real Estate
May 10 2022
Happy Friday!
Hope you are doing well and had a great week!

Thank you for checking out this email. If you have any questions, please don't hesitate to reach out.

Listing of the Week

2195 Demington Dr, Cleveland Heights

Pleased to present my newest listing! Meticulously maintained and restored spacious colonial on one of the most desirable streets in Cleveland Heights. Expertly cared for, the home is abound with updates. No detail has been overlooked, as this home is completely move in ready and point of sale compliant. Walking distance to Shaker Lakes and the Cedar-Fairmount business district. Minutes to University Circle, hospitals, and museums.

I'll be personally hosting open houses both Saturday and Sunday from 12PM-3PM. Please stop by or share with any friends or family looking.

Click here for the ---> Listing Link
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Market Update

Traditionally, spring is real estate season, but buyers across the country have been waiting for summer to finally see a return to normal inventory levels, normal competition and most importantly, normal prices.

As it turns out, a return to normal is probably pretty far off, but cracks are starting to emerge in the seller’s market that has defined the real estate industry throughout the pandemic period. The experts in the trenches are seeing clear indicators that relief might be on the way — but will it come in time for summer?

If you’re a buyer, some promising signals indicate that the grueling real estate landscape that has frustrated you for more than a year is finally starting to loosen up. “The housing market is heading back to sanity in the summer of 2022,” “Now, that aspect will not change overnight as inventory is still being adjusted, but there will be improvements,” According to a local expert. “The housing market will not be as expensive as it was last year and buyers will have some leverage this time around.”

In my experience, I have seen a change in the last 3 weeks. It's still a great time to sell and to buy, just not as "hot" as it was. Would like to discuss if you are interested.

HUD takes aim at Supply
The Department of Housing and Urban Development announced a new program to help remedy the nation’s housing supply shortage by boosting affordable housing. HUD’s “Our Way Home” initiative sets out to increase housing supply by helping local communities preserve and add affordable housing in their area for rentals and homeownership. This may include several initiatives, like advocating for zoning changes, holding roundtables to engage local and state leadership for solutions.

The National Association of REALTORS welcomed HUD’s announcement to combat the housing supply challenge. “As NAR has long recognized, a collaborative approach that involves local partners is critical to building strong, thriving, and inclusive communities,” NAR President Leslie Rouda Smith said in a statement about HUD’s new initiative. “‘Our Way Home’ promises to not only provide tools and resources necessary to address the supply shortages plaguing the country, but it will also improve vital HUD programs based on feedback gained through this effort.”

NAR commissioned a report last year that found the U.S. faces a housing shortfall of 5.5 million housing units. The gap is so large, NAR says, that eliminating it will likely take more than a decade.

Even with this in mind, there are still numerous transactions being closed daily across Northeast Ohio. If you are interested in talking strategy, please reach out,








Pat Barmann
216.990.5719