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Follow on Google News | Kentucky Homebuyers Retreat as Sellers Hold FirmBy: WAIN Street "Home prices continue holding steady. However diminished buyer interest, and increasing homeowner stress are contributing to a challenging housing market", said Lester T. Sanders, President of Kentucky REALTORS®. "There is literally no better time to tap a local market expert. REALTORS® can help with strategy, timing, best practices, and a myriad of other aspects of the home buying or selling process. An app can't do that." The HousingIQ Survey of Kentucky REALTORS® is administered monthly to the Kentucky REALTORS® membership as part of an effort to harness the ears-to-the- The emerging narrative is that house prices will mostly hold steady in the next twelve months although transaction volumes will be lower. The anticipated stress on homeowner finances will create opportunities for single-family rental investors. In the next twelve months: - 40% of respondents expect a decrease in sales volume ----- 51% anticipate decreased foot traffic ----- 46% expect houses to stay on market for longer ----- 36% expect fewer sales to first-time buyers - 90% of respondents anticipate an increase in delinquencies ----- 59% expect more houses to sell below asking price ----- 57% expect increased sales to investors Only a third of the realtor respondents reported a deterioration in their ability to conduct business during April. "During the past two months, KYR has worked hard to provide many opportunities to connect and engage our members", said Steve Stevens, C.E.O. of Kentucky REALTORS®. "Through facilitated discussions, guidance on safe practices, new forms, and links to financial assistance we have strived to keep REALTORS® working and their businesses not just surviving, but thriving in this challenging time." The latest report is available here: https://housingiq.wainstreet.com/ End
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