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Thinking of Selling? NOW is the Perfect Time

Florence, KY – May 22, 2013.

Northern Kentucky is primed for a housing boom in 2013. Sales of existing homes are gaining momentum and prices are rising due to low inventories. Last month, 469 homes were sold in Northern Kentucky, a 17.25% increase over April 2012. It's been the lack of inventory that are keeping sales down, say REALTORS®. 

In April, 914 new listings came on the market, the highest for any month since March of 2011. The number of pending listings in April (627), was the highest reported in a single month since April 2010 when 770 listings went pending. Sellers need to be aware that there are buyers looking for their dream home and there hasn't been a better opportunity to sell their home in the last few years than right now. REALTORS® say homes that are priced right and aren't sitting on the market very long.

 statsapril2013

Interest rates remain extraordinarily low. In the history of mortgage interest rates since 1971, the 30-year fixed rate has been below 4 percent in only 15 months, and those have all been in the past 15 months.  Even with rising home prices, affordability remains historically favorable because home prices over-corrected during the downturn. This means there is still great value for buyers in the current market. As housing prices rise, more homeowners who have been sidelined due to low or negative equity will be able to come into the selling market and still take advantage of low interest rates when they find their new home.

Even with improvements to the housing market, REALTORS® nationwide will continue to push for homeowner's rights to own property, grow their wealth, and live in safe, stable neighborhoods. Just last week, REALTOR® professionals nationwide joined together in Washington, D.C. to meet with congressional leaders on behalf of American homeowners. They pledge to keep issues effecting the home and homeownership on the minds of legislators. REALTORS® believe that Homeownership Matters to all of us.

The 850 member Northern Kentucky Association of REALTORS® and the 1200 users of the Northern Kentucky MLS (NKMLS), Northern Kentucky's leader in the real estate information and services business, operates with a professional staff from 7660 Turfway Road, Suite 100 in Florence, KY. Both NKAR and the NKMLS work to protect the public's right to transfer real property and promote better public understanding of the profession and the real estate transaction process.