January Homes Sales Soar in Central Kentucky, What Happened to the Prices?

As noted in an earlier post January 2012 home sales in Central Kentucky increased almost a hundred percent over January 2011.  With that kind of jump in sales it seems that maybe prices would begin to rise also.

Not so!  Prices for January 2012 were almost 7 percent lower than the average home that sold in Central Kentucky in 2011.  

The inventory is down in Central Kentucky which is expected during the winter months.

Home sales increased almost a hundred percent.

Yet, prices continued to fall significantly.  

It will be most interesting to see what the next few months bring to Central Kentucky home sales.  It certainly seems to be a great time for home buyers.  Is it time for sellers to wait for prices to increase before selling?  Only time will tell.

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