The Greater Louisville Association of Realtors® (GLAR) reported sales up 4.7% year-to-date for 2017. With continued lower inventory, the average price YTD was up 8.6%. The inventory of available properties was 19% lower than last year.
GLAR President Allison Bartholomew commented, "Our members are still working in a very strong sellers' market for homes up to $400k. Between $400-600k the market becomes slightly more balanced and over $600k we're in a buyers' market in most areas due to the influx of new listings."
The NAR Chief Economist, said "buyers came back in force on "the expectation that delaying their home search may mean paying higher interest rates."