BOWLING GREEN, Ky. (WBKO) - Realtors say if you are looking to join the market, the time to sell may be now.
U.S. home prices jumped 12.2% in May compared to a year ago, which is the most in 7 years. In South Central Kentucky realtors say the market is picking up with buyers and sellers. They say the summer season and a higher demand for new homes has created a better market.
"There is a lot of activity right now. Prices are up because we are a little bit shorter on supplies this time. So prices are up on average. Interest rates are also starting to tick up, also causing more activity," says Chris Gravil from United Country Heartland Realty & Auction LLC.
Realtors say the increase in prices suggest the housing recovery may be strengthening across the country.