Kentucky Housing Market Steadies
Sixty-seven percent of Kentucky REALTORS® anticipate an increase in home purchases by investors, according to the September 2021 edition of the HousingIQ Survey of Kentucky REALTORS®. Forty-four percent of the 243 REALTORS® from across Kentucky expect house prices to increase over the next twelve months, while forty-nine percent expect greater price cutting.
“The run-up in rent prices continues to make the rental market attractive to corporate investors. As individual homebuyers grapple with affordability challenges and inventory shortages persist, investors will continue to snap up properties,” said Vidur Dhanda, author of the survey. “Corporate investors, although deep-pocketed and able to act fast, are disciplined and patient. They are unlikely to fuel bidding wars.”
Mom-and-pop landlord conditions continue to worsen. Sixty-seven percent of the respondents reported that mom-and-pop landlords were choosing to sell their properties — a fifteen-point jump from last month’s survey results.
Read more: housingiq.com/housingiq-survey-of-kentucky-realtors-september-2021/
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