The Home market for "Derby City" Louisville, "Slower" numbers for this year!
While we as realtors continue to "sell" more homes than ever, our inventory continues to grow. But, as I see our market unfolding this year I do see a small glimmer of light. The numbers are improving a little in that the inventory is not growing as fast and sales seem to be moving up slowly. This early in the real estate season weather affect our market dramictally. "Days on the Market" and "Pricing" seem to be the interesting subjects to follow.
This past weeks numbers for February the number of homes listed for sale are down and the number of homes sold are down compared with last years numbers (2006). The number of homes listed for sale this past week are down 2.2%. Rates are down a little this week (6.22% avg.). Home buying is down 9.3% compared to last years numbers, that's "bad news", means homes aren't selling and even more homes are coming onto the market.
The total number of single family homes and condo's for sale has grown to just above 9100 for the Louisville area. This past weeks activity is "bad news", homes are selling slower and more homes are coming onto the market.
A glimmer of light may be seen in the fact that overall since the first of the year our inventory of homes coming onto the maket has slowed and the sales have continued to show signs of life by moving up little each week. Hopefully continuing good interest rates and milder winter weather will bring more buyers into the real estate market in Louisville.
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