Tre Pryor Interview: Interest Rate Hikes’ Effect on Real Estate

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.

Screen capture of an interview between Tre Pryor and David Mattingly of WAVE3 news
I’m proud to be a reoccurring guest on WAVE3 when real estate is being discussed.

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.

20212022Change
Jan843748-11.3%
Feb828801-3.3%
Mar1,1171,052-5.8%
Apr1,1681,072-8.2%
May1,2401,067-14.0%
Jun1,3691,176-14.1%
Jul1,3351,098-17.8%
Aug1,2631,099-13.0%
The number of homes sold in Jefferson County by the month. Data source: GLAR.

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: