Home sales in February were at the second-highest level in over a decade, according to the National Association of Realtors. All areas of the country had a rise in real estate contract signings. Lawrence Yun, NAR chief economist, says "February's convincing bump in pending sales is proof that demand is rising with spring on the doorstep. "Buyers came back in force last month as a modest, seasonal uptick in listings were enough to fuel an increase in contract signings throughout the country," he said. "The stock market's continued rise and steady hiring in most markets is spurring significant interest in buying, as well as the expectation from some households that delaying their home search may mean paying higher interest rates later this year."
For the Louisville market, this means that the need for more homes on the market continues. To put it simply, in Louisville, listings are DOWN and prices are UP. If you're selling, right now is the time to list! If you're buying, you're going to want to get ahead of the rise in interest rates that's expected.
Call us today at 821-6321 or email jeffandlinda@leveinteam to get started this week!