Thursday, January 20, 2011

Has Louisville hit bottom?

What's going on with the Louisville market now?

First, let's take a look at Louisville's market over the past 40 years.

(click to view larger)

We have shown to have a fairly stable real estate market with having dropped in history only twice. Once, in 1982 the market dropped -5.14% but immediately came back the next year. This was due to the interest rates being at an all time high of 18%. That's right, 18%!!

The real estate market steadily appreciated over the next 20+ years.

In 2006 & 2007 homes appreciated less than 1%.
This was when the economy started to hit the breaks.

In 2008, Louisville's market fell -5.90%.
(At least we didn't drop 20% like Florida, California, Nevada, etc!!)

In 2009, the market dropped less than 1% again.



Louisville's market



That's right! Appreciated.
You won't hear that from the media.

Based on these historical numbers, that would mean that the Louisville market has started rising again. Therefore, we have already hit bottom and have started our rise back to normal.

This data was collected each year looking at all of the Single Family Homes that were listed and sold in the Louisville Board of Realtors' Multiple Listing Service.

As, Frank Sinatra would say,
Start Spreadin' the News!


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