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The Louisville Real Estate Blog

Buying a Home/Selling Your Home

First-Time Homebuyers Lead the Way in May

First-Time Homebuyers Lead the Way in May | Keeping Current Matters

The National Association of Realtors’ (NAR) latest Existing Home Sales Report revealed that first time homebuyers made up 32% of all sales in the month of May; marking the highest share since September 2012 and up from 27% the same time last year.

NAR’s Chief Economist, Lawrence Yun, cited “strong job gains among young adults, less expensive mortgage insurance and lenders offering low down payment programs,” as contributing factors to the increase in first-time buyers.

Existing-home sales rose 5.1% to a seasonally adjusted rate of 5.35 million. Total housing inventory for sale remains under the 6.0 months needed for a historically normal market at a 5.1 month supply.

Homes sold quickly in May, as 45% of homes sold in less than a month. May also marked the 39th consecutive month of year-over-year price gains as the median existing home price rose 7.9% above May 2014 to $228,700.

Below is a chart showing the breakdown of price increases by region:

Existing Home Prices by Region | Keeping Current Matters...

Home Values Compared to the Peak… Is Another Bubble Forming?

Home Values Compared to the Peak… Is Another Bubble Forming? | Keeping Current Matters

After the housing market bust we experienced across the country in 2008, many experts have been quick to warn that a new bubble may be forming in some areas of the country.

The quickest and easiest way to show how far we’ve come and how far we still need to go in regards to the ‘Peak’ is to share CoreLogic’s Price & Time Since Peak figures, used to create the map below.

Price & Time Since Peak | Keeping Current Matters

Many areas of the country still have a long way to go to be anywhere near the peaks experienced in 2005-2007. Seven states (seen in the darker blue) are currently at their peak.

The biggest challenge facing the housing market’s recovery right now is the lack of inventory available for sale. Prices are determined by supply and demand. Right now buyer demand is ...

Mortgage Rates Over The Last 40 Years

Mortgage Rates Over The Last 40 Years [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • 30-year mortgage rates are projected to increase by a full percentage point in 2016
  • Rates are still well below the past four decade averages
  • The interest rate at which you borrow the funds to purchase your dream home makes a huge difference on your monthly payment
...

Buyer Demand Exceeds Housing Supply

Buyer Demand Exceeds Housing Supply [INFOGRAPHIC]

Buyer Demand Exceeds Housing Supply [INFOGRAPHIC] | Keeping Current Matters...

“Lagging Supply” Leads to Slowdown in Sales

“Lagging Supply” Leads to Slowdown in Sales

“Lagging Supply” Leads to Slowdown in Sales  | Keeping Current Matters

The National Association of Realtors (NAR) recently released...

Where Are Prices Headed In The Next 5 Years?

Where Are Prices Headed In The Next 5 Years?

Where Are Prices Headed in the Next 5 Years? | Keeping Current Matters

Today, many real estate conversations center on housing prices and where they may be headed. That...

Housing Update: Demand Up, Supply Down, Prices Increasing

Housing Update: Demand Up, Supply Down, Prices Increasing

Housing Update: Demand Up, Supply Down, Prices Increasing | Keeping Current Matters

Earlier this week, the National...

Homeowners: We Need to Sell Your House Twice

Homeowners: We Need to Sell Your House Twice

Homeowners: We Need to Sell Your House Twice | Keeping Current Matters

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s...

4 Reasons To Move-Up This Spring

4 Reasons To Move-Up This Spring

4 Reasons To Move-Up This Spring | Keeping Current Matters

Spring is in full force; the summer months are right around the corner. If you are debating moving up to your dream home, here...

5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate Agent

5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate Agent

5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate Agent | Keeping Current Matters

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