Louisville area real estate activity took a break during the Holidays. Some sellers delayed listing their homes, and higher mortgage rates, political uncertainty, & rising home prices kept many buyers on the sidelines. Home inventory fell 9% to 4,050 active listings or a 2.7 month supply of homes.
The total number of properties sold was down 10% vs prior year.
Our local real estate market is beginning to come into balance as low home inventory is offset by reduced buyer activity. The Greater Louisville
Association of Realtors President commented that, "Our members are reporting a normalizing market with the total number of homes sold, and available for sale, similar to that of last year." She added that, "In today's market, it's important for sellers to have their property in move-in ready condition and priced competitively."