Real Estate Forecast

Concerned whether real estate is still a good investment.
Wondering if you should buy or rent.
Maybe you're interested in selling to get that great deal on a bigger home.

What's the REAL ESTATE FORECAST?
The thunderstorms and rain have passed. Clear skies and sunshine planned for 2012 and 2013.


With the historical data of the past, the National Association of Realtors put forth their forecast for the real estate market in 2012 and 2013. Existing home sales rose slightly from 2010 to 2011 from 4.18 million to 4.26 million. Their expectations are for that number to continue rising. That means more homes will sell nationwide. For those folks who have been sitting on the fence, it looks like 2012 or 2013 may be their year to jump into the field.

Historical GDP growth is approx 3% a year. In 2009 our real GDP growth was -3.5%. 2011 showed a +1.8% growth and the 2013 forecast to be a +3.1% growth. Maybe some stability in our future?

Chart from Realtor.org- Information gathered from NAR

February 29, 2012


I'd love to discuss with you the opportunities available in the current market, the historical analysis of the Louisville Metro area, current interest rates, and how much it actually costs to get a home of your own.

There is NO COST OR OBLIGATION.


Melissa S. Pawley
MelissaSimms@remax.net
502.315.1561 (Office)

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.

And................

........................2010......................

Louisville's market

APPRECIATED

+3.53%!!!!


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!