Sales volume broke records once again in 2021 totaling $14.3 billion. This is almost 16% over the 2020 year-to-date volume of $12.4 billion. This figure has essentially doubled over the past 5 years having reached $7.9 billion in 2016.
Kentucky metro area house prices are forecasted to track the national market over the next twelve months. Currently, the market is tracking the overall U.S. market. Compared to 12-months ago, Kentucky’s housing market has strengthened. Current local economic conditions support an estimated 14.3% increase in house prices over the next twelve months. Based on the housing market vitality of the nine metro housing markets which comprise it, Kentucky’s housing market ranks 43rd amongst all states and D.C.
Kentucky REALTOR® Confidence Inches Up In January
Two out of five Kentucky REALTORS® say buyers are rushing to beat mortgage rate increases while REALTOR® expectations of house price growth continue to moderate, according to the January 2022 edition of the HousingIQ Survey of Kentucky REALTORS®.
COMPARED TO A YEAR AGO :
- 42% expect house prices to increase—a 16-point drop
- 45% expect houses to stay on the market for longer—a 23-point increase
- 31% expect greater price-cutting by home sellers—a 14-point increase
- 30% anticipate an increase in foot traffic—a 14-point drop