The Louisville real estate market is being driven by one key factor right now. Here’s what I’m talking about.
Before I tell you all about our recent client appreciation party out at Slugger Field, I wanted to give you a quick update on the Louisville real estate market.
As you can see in the chart at 0:21 in the video above, in less than a year, interest rates have dropped almost 1.5%. This is driving the market and keeping plenty of buyers around.
There continues to be a good supply of homes in the Louisville and Southern Indiana area. However, word about interest rates hasn’t quite made its way out to the media yet so foot traffic, or the number of people who are going out to see homes, is down this year. This will change as the media picks up on these interest rates and word spreads.
How long will they stay low, and will they go even lower? The predictions from Freddie Mac, Fannie Mae, The Mortgage Bankers Association, and the National Association of Realtors are all saying that interest rates will hover around 3.7% to 3.9% for the remainder of the year. They should remain low for the first half of 2020 as well. What happens after that? It’s anyone’s guess.
This means that now is not only a great time to sell to take advantage of increased demand, but it’s also a great time to buy and take advantage of those rates yourself. We expect the market to continue to do well for the rest of this year and into next.
Now, back to our party. We had an awesome tailgate before the Louisville City soccer game. Thanks to all who came. We had a great turn out. Tickets were free thanks to our sponsors at Fairway Mortgage, HomeTeam Inspection Service, Aqua Lock, and Limestone Title. We’ve been blessed with a lot of great friends, clients, and staff over the years so we wanted to do our part in giving back on the last day of summer. The shaved ice and ice creams were a huge hit, as was the gift basket we raffled off. Congratulations to Craig Powell for winning the basket! And congrats to Louisville City, who also won the game!
If you have any questions for me about buying, selling, or real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.