Solving the mystery of the 5.5% mortgage rate
It’s being called the magic number and the tipping point.
Read MoreIt’s being called the magic number and the tipping point.
Read MoreWith monthly data extending back to 1975, the House Price Appreciation Indicator (HPAI) provides a comprehensive data set for understanding historical trends at the national, state, and metro levels.
Read MoreAnnual house price appreciation slowed to 2.2% in February 2023, reflecting an overall cooling trend in the US housing market, according to HousingIQ’s House Price Appreciation Indicator (HPAI).
Read MoreSo, what’s going on with house prices?
As of March 11, 2023, as the data trickles in, we know the following:
Expert commentary about the housing market runs the gamut–crash, correction, drop, worsening decline, unlikely to crash, and don’t worry.
For the rest of us, as we wade through the tail end of the pandemic, witness gravity-defying labor markets, experience inflation rates not seen in four decades, and see unprecedented interest rate hikes, some clarity about the housing market would be helpful.
Perhaps, even about our local market?
Read MoreSeventy-three percent of Kentucky REALTORS® expect sellers to drop their asking price, while eighty-nine percent expect houses to stay on the market for longer, according to the July 2022 edition of the HousingIQ Survey of Kentucky REALTORS®.
Read MoreSixty-nine percent of Kentucky REALTORS® expect sellers to drop their asking price, while eighty-five percent expect houses to stay on the market for longer, according to the June 2022 edition of the HousingIQ Survey of Kentucky REALTORS®.
Read MoreThirty-eight percent of Kentucky REALTORS® expect house prices to fall, while seventy-seven percent expect houses to stay on the market for longer, according to the May 2022 edition of the HousingIQ Survey of Kentucky REALTORS®.
Read MoreForty-three percent of Kentucky REALTORS® expect more sellers to reduce their asking price, while fifty-eight percent expect a house to stay on the market for longer, according to the April 2022 edition of the HousingIQ Survey of Kentucky REALTORS®.
Read MoreHopeful homeowners who are already struggling with low inventory and higher prices must now confront an additional challenge: investors.
Real estate professionals are noting investor interest in homebuying has been on an upward trend for months. According to the numbers tracked by the HousingIQ Survey of Kentucky REALTORS®, 31% of the respondents in the January survey said investors had outbid their individual buyers. By the February survey, 42% of the respondents reported the occurrence. By March, responses indicated an 18-point jump since the beginning of the year, with 49% of the respondents saying that investors had squeezed out individual buyers.
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