Once again my friend and past client, David Mattingly, asked me to be interviewed on WAVE3 news. Today’s topic was interest rate hikes’ effect on real estate, specifically our Louisville market.
It’s not surprising that recent interest rate increases by the Fed are needed. After all, it’s one of the only ways to combat our skyrocketing inflation. But there are always consequences.
In real estate, it translates into home buyers being forced to settle for “less home” for the same amount of money. We also talk about how interest rate hikes’ effect on real estate is only making things worse for Louisville home buyers. Now their buying power is reduced on top of already low housing inventory.
Interest Rate Hikes’ Effect on Sales
Here is some data to show how all of these factors are pushing sales numbers lower this year.
| 2021 | 2022 | Change | |
| Jan | 843 | 748 | -11.3% |
| Feb | 828 | 801 | -3.3% |
| Mar | 1,117 | 1,052 | -5.8% |
| Apr | 1,168 | 1,072 | -8.2% |
| May | 1,240 | 1,067 | -14.0% |
| Jun | 1,369 | 1,176 | -14.1% |
| Jul | 1,335 | 1,098 | -17.8% |
| Aug | 1,263 | 1,099 | -13.0% |
You may also be interested in how this is affecting the Average Home Price in Louisville Kentucky.
If you need a great Realtor in Louisville, Kentucky please contact me.
Previous interviews with Tre Pryor:
- NBC Interviews Tre Pryor: Too many Realtors, not enough houses (April 13, 2022)
- WAVE3 News Interviews Tre Pryor Regarding Low Housing Inventory in Louisville (March 18, 2021)
- Louisville home sales remain surprisingly strong in spite of COVID and protests (September 28, 2020)
- Louisville investors bullish on home improvement, not the stock market (February 10, 2018)
- What ‘neighborhood schools’ means for JCPS (February 27, 2017)
