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Seller's Market Developing in Much of the U.S.

Existing-home sales edged up in January, while a seller’s market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of REALTORS®. Sales rose in every region but the West, which is the region most constrained by limited inventory. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.4 percent to a seasonally adjusted annual rate of 4.92 million in January from a downwardly revised 4.90 million in December, and are 9.1 percent above the 4.51 million-unit pace in January 2012. Read more.

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Louisville Homes Sales Up 19% In January

Members of the Greater Louisville Association of Realtors sold 880 houses and condos in January, a 19 percent increase from a year earlier. The median sale in January — the point at which half of homes sold for more and half for less — was $133,000, a 6 percent increase from a year earlier, the association said. “Our members are looking forward to a strong spring selling season, building on relatively good winter months,” Louisville Realtors President Paul Ogden said in the group’s monthly news release. Read more.

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Home Prices Grow At Fastest Pace in 7 Years

Home prices in the fourth quarter of 2012 showed a rate of annual appreciation greater than in any quarter since the end of 2005 the National Association of Realtors® (NAR) said today.  There were 133 metropolitan areas in which median prices rose during the quarter out of the 152 tracked by NAR.  Prices increase in 120 areas in the third quarter and only 29 one year earlier.  Twenty-nine areas posted price declines in the recent period. Read more.

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Another Way To Look At Louisville Home Sales

More than half of homes listed on the Louisville real estate market in 2012 ended up selling, a dramatic improvement from the previous five years, according to statistics analyzed by Louisville agent Greg Fleischaker. As we reported last month, sales by the Greater Louisville Association of Realtors jumped 16 percent in 2012. Read more.

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