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What Is It Like Living in Shelbyville, Kentucky? A Local REALTOR®'s GuideIf you're considering buying a home in Shelbyville, Kentucky, the first thing to understand is that Shelbyville and
What is Driving Today's High Buyer Demand?
Dated: February 20 2022
Views: 29
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As we head towards Spring, it seems that like always the housing market is going to heat up. However, this year is going to be different than what we have seen the past two years. Over the past two years we have seen high buyer demand and home prices rising higher and higher; while mortgage interest rates remained low. This allowed home buyer's the ability to afford the higher home prices because their interest on the loans were so much lower. However, this year we are seeing mortgage rates rise higher and higher; while at the same time home prices are rising, but not by the rates they have been. I believe this year we will start to see home prices begin to moderate while the government begins the process of dealing with inflation - which will require higher interest rates, meaning home buyers will be able to afford less home.
This week mortgage interest rates according to Fannie Mac surged this week to a rate of 3.92% against last week’s 3.69%. As I warned last week - 4% is coming and unfortanently this will price some homebuyers out of the market.
For January in the Louisville/Lexington Market there were 2,810 (+12) Active & Pending Single Family Homes/Condos with 1,099 (+22) Sold.
We have a 35.80 (+0.3) average days on market for our area with 0.98 (-0.03) Months of Inventory Available.
December 2021 saw an Average Selling Price for a home at $284,508 compared to $249,359 in December 2020. - An over $35,000 increase in just 1-Year!!
1607 Homes were sold in December of 2021 compared to 1635 in December of 2020.
Median Selling Price for homes in December of 2021 closed at $245,000 compared to $217,000 in December of 2020.
Mortgage interest rates are projected to climb, with some projections showing 3.70% as the median for 2022 - however seeing what rates are doing, I have a feeling the projections are going to be off. I predict we will see rates around 4.5% by the summer and closer to 5% by the end of the year. This will have a dramatic impact on the purchasing power of today's homebuyers and may also force a retreat of home prices.
These higher interest rates will cost home buyer's additional money in interest. You can avoid the interest hikes by locking in your rate today, or if you currently own your home and will benefit from a refinancing, refinancing at today's historic rates.
Give me a call today, so we can discuss all of your options and get you on the right path to Homeownership and the American Dream!
David Hittle, Realtor
United Real Estate Louisville
Shop Kentucky Homes
502-489-1135 (Call or Text)
Shopkentuckyhomes@yahoo.com
David Hittle
David Hittle is a licensed real estate agent with United Real Estate Louisville, serving buyers and sellers throughout Louisville, Kentucky and surrounding counties. Specializing in residential real e....
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Data last updated: September 13, 2026 11:43 AM UTC and updating occurs daily
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program. Real estate listings held by IDX Brokerage firms other than United Real Estate Louisville are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. This information is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to
REALTOR® Association of Southern Kentucky All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
Heart of Kentucky Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
