2014 Housing Outlook: Home Prices Continue to Rise.
Outlook on Home Prices!
Home prices, I believe will continue to rise, but at a slower, more steady pace. The housing recovery continues to push home prices up in most places.
Market Comparison Stats
2012 Average Home Price 2013 Average Home Price
$167,214 $172,906
Total Sold: 13,621 Total Sold: 15,738
Average Days on Market: 90 Average Days on Market: 76
Clear Capital forecasts home prices will rise nationally in 2014 3% to 5%. Kiplinger expects an increase of about 4%.
Outlook on Interest Rates!
30 year mortgages- now at around 4.45%- to climb to between 5% to 5.5% by year end. Although this will be higher than rates in early 2013, which were 3% to 3.25%, they are still historically modest. Remember, if you were in the housing market in the 1970's and 1980's, this will still seem ridiculously low.
Reference stats: Kiplinger's Outlook, Forbes, Greater Louisville Association of Realtors
If you are thinking of Buying or Selling in 2014, CALL ME. With my 30 years of experience in the industry, I can help you navigate to get top price if selling; by you having access to my stager, cleaning company, and professional photographer, to name a few, to make your home the very BEST it can be. Or, if purchasing in 2014, access to my lenders, with low closing costs, low title fees, in-house underwriting, quicker closing due to the volume of loans I give them. Call me! Let's talk about your 2014 goals in real estate.
Karen Rodriguez
502-643-2255
soldbyk@gmail.com
Website: Soldbyk.com, Search all Greater Louisville and surrounding counties.