Home Sales Rebound in Northern Kentucky

Florence, KY – May 22, 2014. The Northern Kentucky Association of REALTORS® and the Northern Kentucky Multiple Listing Service report that home sales in April were up by 4.3% over April 2013, 509-488. We are still seeing homes go pending at a faster rate now that the spring home buying season has arrived. In April, 607 homes went under contract in our local real estate market, which is on pace with last April, a sign that homeownership in Northern Kentucky is strong and on track to meet or exceed 2013 when NKY home sales reached a 6 year high. The number of new listings added to the Multiple Listing Service is April was up as well. There were 892 new listings entered in the MLS during April- ready for immediate acceptance of an offer to purchase by those buyers looking for their dream home.

Current market conditions are favorable to both buyers and sellers. Interest rates are still very favorable but, predicted to rise in 2014 so, why wait? For buyers, Northern Kentucky is a great place to live, with many safe, walkable communities, beautiful parks and historic landmarks plus, home prices are very affordable. For sellers, average selling prices were up nearly 4% in April. If you are considering listing your home for sale, remember that your local REALTOR® is available to guide and support you through the process.

April 14 stats 

Before a home is listed for sale, sellers should prepare it with an eye toward what appeals to today's buyers – something a REALTOR® can help sellers with. Enhancing curb appeal and showcasing areas like kitchens and bathrooms is helpful. Also, make sure the home is well maintained, small repairs are completed and the home is free of clutter.

Last week, Leadership and members of NKAR and the Kentucky Association of REALTORS® along with thousands of REALTORS® from across the U.S. converged on Washington, D.C. to attend the REALTOR® Party Convention and Trade Expo. They hold their May Convention in Washington, D.C. each year to meet with Congressional Leaders on Capitol Hill to advocate for the American Dream of homeownership. The REALTOR® is a voice for all American Homeowners. They go to Washington to encourage Congressional decisions that will positively affect the public's ability to buy, sell and own real estate.

It's important for REALTORS® to meet with those who dictate public policy. Congress will be considering legislation that could have a significant impact on local real estate such as continued accessibility to FHA and VA mortgage programs, preserving the MID (Mortgage Interest Deduction), keeping flood insurance premiums affordable and re-instating an expired tax provision that provides tax relief to those who lost their home to short sale, foreclosure or had a loan modification in order to keep their underwater home.

Homeownership is one of the most important decisions a person will make in their lifetime. It's one that affects your future wealth, your family's health and security. A REALTOR'S® knowledge of the local market, professional training and experience with these types of big decisions can be an invaluable resource for you during the process of buying or selling a your home.

Contact a REALTOR® today!