Find out what’s going on in our market, and stay tuned for an underwater tour!
If you’ve ever wondered what it’s like to scuba dive in the ocean and explore a coral reef, underwater sculptures, and ancient shipwrecks, today’s video is for you. I recently spent a wonderful time at Sandals Resort in Grenada; I caught everything on film, so I’d love to give you a first-hand look at all the beautiful, natural environments we came across. Before we go on this adventure together, though, let me fill you in on what’s going on in the Louisville real estate market.
Sales are slowing a bit in our area and throughout the country. A recent survey found that only 35% of respondents believed now was a good time to buy. Additionally, buyer demand is at an 86 on a 0-100 scale, which is a decrease from last month’s 88 and the first decline since November. There are a few reasons for growing buyer fatigue, including price appreciation, low inventory, low mortgage rates, and homes that sell incredibly quickly and above list price.
Inventory is still low, but we’ve recently seen a slight uptick in available homes. This is likely due to sellers who are entering the market later, and it indicates we may be headed toward a more neutral market. Mortgage rates are also expected to remain between 3% and 3.5% throughout the next year, and homes are expected to appreciate anywhere from 6.6% to 10.6%. In the future, appreciation is expected to slow back down somewhere between 2022 and 2025.
Now, on to the underwater tour. For your convenience, I’ve included timestamps of today’s video. Feel free to navigate to the section(s) you’re most interested in viewing:
(02:25) — Diving into the ocean
(03:10) — An underwater sculpture park
(04:36) — Exploring the sunken ship
(06:13) — Conclusion to today’s video
If you have any questions or would like more information about our market, feel free to reach out to me. I look forward to hearing from you soon.