New numbers for Louisville’s housing market continue to improve in 2013. The number of home closings in July 2013 is way up (see the video). But rises in interest rates in July are starting to slow Home sales in August. In this video, the Sokoler Medley Team’s Bob Sokoler talks about the Louisville Home Sales Market while visiting 5th annual The Big Green EGG Festival. The Festival was held this past Saturday August 10, 2013 at Brownsboro Hardware and paint. The Big Green Egg is one of the most versatile barbecues in the world. Watch Bob’s report to get more info on the Big Green Egg.
For more information about Louisville Real Estate or to work with the hardest working Louisville Real Estate Team in Kentucky “The Medley Sokoler Team at REMAX Properties East, 10525 Timberwood Circle, Louisville KY 40223 head to http://www.WeSellLouisville.com or call (502) 376-5483.
A sales increase of 35% is amazing in any city! But it happened here in Louisville last month (when compared to July 2012) and that has a number of Louisville home owners smiling ear to ear. Clearly the new numbers (see all the raw numbers below) are an indication the Louisville housing market has clawed its way out of a hole and is back on track.
Understand it’s not all peaches and cream, a percentage of the homes that closed in July 2013 should’ve closed in June, but there weren’t mortgage delays that pushed the closing date into July. In many cases those mortgage delays can be blamed on underwriters triple checking every inch of a loan application before giving final approval. We have seen it happen first hand as underwriters request all sorts of personal documentation from buyers, literally putting them through hoops in order to approve a loan.
The number of homes going under contract in the month of July was not quite as impressive. Louisville saw an increase of only 12.77% over July 2012. That’s a clear indication that rising mortgage rates are having an impact on home sales....