Home Price Continue to Edge Up and Inventory Drops in Central Kentucky

Could this be the best time to buy and sell in Central Kentucky?  Many people are of that opinion.  

Now is the time to buy!  Could it also be the time to sell?

Line graph emphasizes the market conditions for home buying in Central Kentucky.

 

With interest rates continuing to hover at record low rates and inventory of homes for sale starting to drop this could be the best of times to buy and sell a home in Central Kentucky. 

Home prices climb in June 2012 for central Kentucky

Prices increase for Central Kentucky homes for the second month in 2012.

Buyers can buy homes in most Central Kentucky communities and their payments will be less than if they were to rent the same home.

Sellers can take advantage of the lower inventory and the larger numbers of buyers.  With prices of homes sold  rising for two consecutive months and a large number of buyers finally surfacing this may be the ideal time to sell.  Of course prices could continue to rise and it may   be even better later.  Then again if interest rates were to climb quickly which historically happens after a long recession we could quickly see buyers priced out of the market.  That could lead to a bigger decrease in sales and home prices could take another dip.  

So what do you do?  The old cliche “a bird in the hand is worth two in the bush” is always worth remembering.  The only thing any of us know for sure is what is happening in the present.  

For buyers there is no doubt that now is an ideal time to shop for a home.  Sellers this is a good time to sell and only the future will tell us how good a time.

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