Central Ohio real estate agents have reason to believe the housing market might be on its way back.

Central Ohio real estate agents have reason to believe the housing market might be on its way back.

Statistics released July 23 show June was the best month for home sales in central Ohio in 10 months and that sales were up 15.6 percent over May.

In addition, month's supply, a key indicator of supply and demand in the housing market, has fallen to its lowest level since August 2006.

Columbus Board of Realtors president Gary Parsons said the month's supply number for June was 7.12. If no new homes were added to the market, it would take approximately 7.12 months to sell the remaining inventory, he said.

"This new low is something to be proud of, because it means central Ohio is not seeing the volatility in supply and pricing that much of the rest of the country is experiencing," Parsons said. "A market is typically considered balanced with around a 6.5 to seven month's supply, so this is a case where we like to see numbers decreasing."

More than 2,000 homes changed hands in June, the highest number in 10 months, as the market reached its most balanced levels in nearly three years.

June marked the highest number of homes sold in a month since August 2008. There were 2,092 homes sold in June, a 15.6 percent increase over May, but down 6.7 percent from June 2008.

"More than 1,600 homes went into contract in June, more than any other month since last August, which is a promising sign for the second half of summer sales and the central Ohio market," Parsons said. "We are continuing to see more homes sell; more go into contract, and fewer entering the market which is good news for buyers and sellers -- things work best with a balanced market."

The average sales price was $169,270 in June, the highest in nearly a year, but still off by 6.2 percent compared to June 2008.