![Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC]](https://files.simplifyingthemarket.com/wp-content/uploads/2022/04/05162234/20220408-KCM-Share.png "Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC]")
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
2022 1st Quarter Housing Market Update
Dated: April 10 2022
Views: 20
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spring has come to Louisville, Kentucky and while it almost snowed yesterday, it is a bright and sunny 70 degrees today {Cough!, Cough!} As the housing market begins to get hotter, we should see a similiar market to what we saw last year with one caviat: mortgage interest rates. Last year we saw record low mortgage interest rates reaching one week as low as 2.65% (OMG!!!!). This year we will see a very different picture and rates have already reach 5% with the Federal Reserve looking to boost interest rates on government bonds even more this year. This will lead to one thing, higher interest rates going forward. Now is the time to make some moves, even with the higher interest rates and higher prices, many buyers can still afford to buy in this market and lock-in a stable monthly payment for housing. The alternative to owning is renting, and that market is even hotter with rental costs rising almost 20%!!! If you need help with your real estate needs, I'm just a phone call away! (Cell: 502-489-1135)
This week, mortgage interest rates, according to Fannie Mac, jumped to a rate of 4.72% against 4.16% two weeks ago. Ever since the Federal Reserve raised interest rates, mortgage interest rates have continued to tick higher and higher. While these rates are low compared to historic averages the increase will price some homebuyers out of the market. With higher interest rates come higher payments, and higher payments affect the DTI or Debt to Income Ratio. The best solution to this is to get your rate locked-in today so that rates rising do not affect your ability to purchase.
For March in the Louisville/Lexington Market there were 2,885 (+199) Active & Pending Single Family Homes/Condos with 1,447 (+294) Sold.
There is a 38.50 (-4.6) average days on market in our area with 0.82 (-0.01) Months of Inventory Available.
February 2022 saw an Average Selling Price for a home at $282,755 compared to $245,978 in February 2021. - A gain of over $36,000 in just one year!
1084 Homes were sold in February of 2022 compared to 1192 in February of 2021.
Median Selling Price for homes in February of 2022 closed at $235,250 compared to $210,000 in February of 2021.
I predict that mortgage interest rates will continue to rise higher, with average rates hitting 4.46% this week meaning that retail rates on the open market will be much higher than that. As mortgage rates rise buyers may get priced out of the market and not be able to afford the homes they were looking for. Home prices are not projected to fall this year but may level off at a high level, even so, prices will continue to rise as other buyers make up for the priced-out buyers.
Contact me 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@gmail.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....
Latest Blog Posts
What Should You Do Before Buying a Home in Kentucky?Buying a home can be exciting.It can also become unnecessarily stressful when buyers start looking at houses before they're prepared for
What Is It Like Living in Lexington, Kentucky? A Local REALTOR®'s GuideWhen people think about Lexington, Kentucky, a few things usually come to mind first.Horses.The University of Kentucky
From Mom to Daughter: A Real Estate Relationship Years in the MakingSome real estate closings mean a little more than simply handing over the keys.Today, I had the privilege of watching Shelby Lay
Data last updated: September 13, 2026 11:43 AM UTC and updating occurs daily
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search, Inc. Real estate listings held by 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 each listing includes the name of the listing broker.
© 2026 Metro Search, Inc.
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
