Stopover, KY 41568 housing market

What this means

• Valuation. Prices are 36% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are down 14.2% over the past year (U.S.: +1.2%), 26% below their 2022-23 peak.
• Supply. Listings are 100% below the 2017-19 norm and falling (−100% vs. a year ago): still a tight market.
• Negotiating. Buyer leverage is high (75/100; U.S.: 54) (as of Jan 2021): homes sell for about 14.2% below their final list price (as of Feb 2021); 0% of listings had a price cut (U.S.: 26%) (as of Dec 2020).
• Affordability. A mortgage on the typical home takes 19% of the median household income (U.S.: 35%); it takes about $18k a year to keep the payment at 30% of gross pay. That includes about $1,387 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $433 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding. Flood isn't covered by standard homeowners insurance.
• Outlook. Leaning up: likely +2% to +18% over the next 12 months (94% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: +1.8% to +18.1% (80% range; middle estimate +11.1%), chance of a rise 94%, of a 5%+ drop 1%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in Pike County, KY