As summer turns to fall, I wanted to bring you an update on the real estate market. I also wanted to let you know about our upcoming party.
Local real estate has seen some interesting developments lately, so let’s take a moment to review some of the most notable changes. Also, beyond this quick market update, we’ve got one other announcement to share: You’re invited to our upcoming client appreciation event! Keep reading today’s message to learn how to get registered.
With kids going back to school, the real estate market in Louisville and Southern Indiana has slowed down just a bit. The number of homes that sold in July was off by less than 1% from last year, but the number of homes going under contract is down 11.9% from last year.
The number of homes on the market last month was just about the same as we saw in 2018, as was the number of new listings in July.
If we look at our absorption rate and remember that anything less than five months is a seller’s market, our 2.87-month supply puts us in a strong seller’s market.
However, here’s where things get a little scary. We’ve been hearing the word “recession” a lot. When experts were polled about when the next recession will begin, the majority of them said 2020.
A recession does not equal a housing crisis, contrary to popular belief. The top three triggers for this next recession will be trade policy, stock market correction, and geopolitical crisis. With low interest rates, the housing crisis will be minimal because people still want to buy and sell homes.
“We expect the housing market to continue to be strong over the next few months.”
With kids going back to school, the real estate market in Louisville and Southern Indiana has slowed down just a bit. The number of homes that sold in July was off by less than 1% from last year, but the number of homes going under contract is down 11.9% from last year.
The number of homes on the market last month was just about the same as we saw in 2018, as was the number of new listings in July.
If we look at our absorption rate and remember that anything less than five months is a seller’s market, our 2.87-month supply puts us in a strong seller’s market.
However, here’s where things get a little scary. We’ve been hearing the word “recession” a lot. When experts were polled about when the next recession will begin, the majority of them said 2020.
A recession does not equal a housing crisis, contrary to popular belief. The top three triggers for this next recession will be trade policy, stock market correction, and geopolitical crisis. With low interest rates, the housing crisis will be minimal because people still want to buy and sell homes.
With these market statistics out of the way, let’s circle back to that event I mentioned earlier. Regardless of what state our market’s in, great clients like you have continued to trust the Sokoler-Medley Team with your real estate needs. And for that, we thank you. To show you just how much we appreciate your support, we’d like to invite you to join us for our annual client appreciation event. This time, we’ll be taking a trip to Louisville Slugger Field to cheer on our local Louisville soccer team as they face off against the North Carolina Football Club. So mark your calendars for August 24 from 1 p.m. to 6 p.m. We hope to see you there!
Visit this page to learn more and register
If you have any other questions or would like more information, please to give us a call or send us an email. We look forward to seeing you soon.
