Posted 2020-02-18
Louisville home inventory hit a record low in January. Total sales of 1,000 homes were down 21% vs December, although they were 5% above prior year. Sales price growth fell to 2% as the market lapped strong price increases in 2019. Homes sold a little more slowly at an average of 72 days, and total home inventory dropped 7% to 3,400 active listings or a 2.3 month supply of homes.
The Greater Louisville Association of Realtors President said that, "Our members saw a continuation of strong demand for
entry level homes in January. We hope that continued low interest rates will support the mid and higher price
points heading into Spring.”
The Chief Economist for the National Association of Realtors® commented
that "The current national home inventory is at a 3 month supply,
which matches the lowest amount since the National Association of Realtors® started tracking inventory levels in the 1980s.
