NKY REALTORS® Expect Home Sales Will Rise in Coming Months

Florence, KY – April 22, 2014. The Northern Kentucky Association of REALTORS® and the Northern Kentucky Multiple Listing Service report that home sales were off by 7% in March over the same month of 2013; which seems to be a residual effect of the extreme winter weather that wouldn’t go away. The outlook for home sales remains promising due to the rise in homes that went under contract (658 pending) and the number of new to the market listings that were added in March. A total of 825 new listings were added to the MLS in March, and we expect that more sellers will enter the real estate market in the coming months of Spring and Summer.

Currently, low inventories still plague real estate sales in Northern Kentucky and the region. This, coupled with fewer first time homebuyers seems to be stalling sales of residential real estate. Typically, a low inventory of listings tends to drive prices higher.  This could be the bright spot for some home sellers who have been underwater or have seen their home values plummet in recent years.  Many of those who would like to be first time homebuyers say that tight lending restrictions and student loan debt are their challenges to buying a home.

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In April 2014, REALTORS® in Northern Kentucky and across the nation celebrate the anniversary of the 1968 landmark Fair Housing Act. Each year REALTORS® recognize the significance of this event and reconfirm our commitment to upholding fair housing laws as well as our commitment to offering equal professional service to all in their search for real property.

Fair Housing Act: The Fair Housing Act declares a national policy of fair housing throughout the United States. The law makes it illegal to discriminate in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status, or national origin.

By using the services of a Professional REALTOR® you can be assured that your agent is governed by a strict Code of Ethics.  Agents in a real estate transaction are prohibited by law from discriminating on the basis of race, color, religion, sex, handicap, familial status, or national origin. A request from the home seller or landlord to act in a discriminatory manner in the sale, lease or rental cannot legally be fulfilled by the real estate professional.

The sale and purchase of a home is one of the most significant events that any person will experience in his or her lifetime. It is more that the simple purchase of housing, for it includes the hopes, dreams, goals, and economic future of a family.  Call a REALTOR® today!

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.