May 2014 Home Prices Steady with Tight Inventory

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Greater Louisville Association of REALTORS

A healthy spring market continued with 14% more homes under contract versus May 2013. May home sales in the Louisville area were off about 5.6% from a year ago. Prices in many areas are similar to last years, with slight gains noted in Oldham and Bullitt Counties. Inventory remains relatively tight with 17% fewer homes for sale in Jefferson County, compared to a year ago. Greater Louisville Association of Realtors® President Lester Sanders noted that, “strict documentation by mortgage lenders coupled with limited supply has made housing recovery relatively modest. We continue to need more inventory.” He also added that, “members are encouraged by the increase in new construction activity, despite the fact that construction lending for speculative homes is still limited.” At the national level, Doug Duncan, Chief Economist for Fannie  Mae, noted that, “consumer’s lukewarm income expectations and reticence about the economy seem to be  holding back housing demand.” Although the…

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Author: Louisville Kentucky Mortgage

I have helped over 589 Kentucky families buy or refinance their home over the last 18 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process. I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues. You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process. Give us a try or let us compare your options on your next mortgage transaction. Call me locally at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance. This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. NMLS# 57916 Joel Lobb Senior Loan Officer (NMLS#57916) American Mortgage Solutions, Inc. 800 Stone Creek Pkwy, Ste 7, Louisville, KY 40223 phone: (502) 905-3708 Fax: (502) 327-9119 Company ID #1364 | MB73346 Equal Housing Lender

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