Existing Home Sales Up 7.6 Percent in August

August sales of existing homes brought modest relief to a struggling housing market in most areas of the country with sales up 7.6 percent from record lows. The National Association of Realtors reported that sales of previously owned homes rose to an annual rate of 4.13 million. The NAR also reported that the 12.5-month inventory of unsold homes in the U.S. in July dropped to 3.98 million, or an 11.6-month supply. Selling prices for homes sold in August also showed modest gains of 0.8 percent with the median price for an existing home measured at $178,600. While any gains are welcome signs for the country’s beleaguered housing market, some economists predict that any recovery could take a long time for many of the hardest hit housing markets. NAR Chief Economist Lawrence Yun expected the housing market to remain soft through October and November despite lower home prices and mortgage rates at record lows. “The housing market is trying to recover on its own power without the home buyer tax credit,” Yun said. He reported that any recovery “will likely be slow and gradual because of lingering economic uncertainty.” If you’re thinking of selling your Louisville home, there are qualified buyers out there looking for their next home. Is your home getting the exposure and marketing you need to attract them? Call 502.744.9504 today and have the Louisville real estate professionals at Louisville Properties help you sell your home. Their experience, Internet marketing skills and professionalism can make all the difference when you’re ready to sell your home. Whether you need a discount brokerage, FSBO assistance or a full-service Louisville real estate agent, rely on us to help you sell your home and get results!

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James Powell

Jim Powell has over 20 years of experience buying and selling luxury real estate in Louisville, KY and Managing over hundreds or rental properties across the city.
Jim Powell (License #191501)

Lauren Ghanavatian

Lauren Ghanavatian attended Assumption High School and the University of Louisville. Growing up in Louisville gave her a sense of the unique and diverse communities this city has to offer.

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Louisville Properties is a full service Louisville Real Estate Company for buyers and sellers of real estate. We offer the following services
3418 Frankfort Ave #100 Louisville, KY 40207 Louisville, KY 40207
United States
Phone: 1-502-744-9504

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