Buyers Beware;
The current buyer's market in Louisville is supported by inventory levels equalling 10 months of supply or more. Also, Buyers are able to obtain discounts not previously available and don't forget about the extremely low interest rates.
The market Nationally appears to be stabilizing with increased mortgage applications and slightly increased new home sales.
Buyers that are holding off to see where the market goes may miss an excellent opportunity.
Sellers prepare:
Home sales in Louisville continue to be down about 14.0% from 2006 levels but stabilization of the housing market predicted Nationally should help increase sales in Louisville. Louisville still had an average increase in the mediian house price of 4.5% from $135,000 to $141,500.
Sellers should be preparing their homes for sale now in anticipation of the market moving to more seller friendly. Update, Update, Update.................
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