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Follow on Google News | Kentucky REALTOR® Confidence Holds Steady In DecemberSoftening homebuyer demand to rein in price growth as inventory woes continue
By: HousingIQ Key Points * 55% percent expect an increase in sales volume, a two-point increase from a year ago * 27% anticipate an increase in foot traffic, a 14-point drop from a year ago * 54% expect houses to stay on the market for longer, a 27-point increase from a year ago * 42% expect greater price-cutting by home sellers, a 20-point increase from a year ago "The double-digit home price appreciation of the last 18 months is discouraging buyers. On top of that, rising, albeit historically low, mortgage rates sharpen affordability challenges," In the latest issue of the Home Purchase Sentiment Index, which tabulates national consumer sentiment, Fannie Mae reported a survey record-low 26% of respondents said that it was a good time to buy a house compared to 52% a year ago. Dhanda continued: "Wage growth and continued economic recovery will sustain housing demand. While low inventory and weak new construction will prevent price declines." The complete report is available here: housingiq.com/ End
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