Real Estate Trends/Statistics

Posts about Real Estate Trends or Real Estate Statistics

Louisville Home Buyers Are Choosing Deals Over New Construction

We all have heard that the housing market is “down.” It’s taking longer for people to sell their homes and some just won’t sell at all. (This is primarily true in the higher price ranges.) While this is tremendous news for Louisville home buyers, sellers continue to have a difficult time.

Photo of Louisville new construction home
New construction is almost always more expensive than buying existing homes.
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Louisville Housing Market Report, 7 Year Period End March 2011

I took the time to add the historical trend line to these charts as I do in our monthly Louisville Housing Reports. And the trend is nothing if not consistent. March home sales in Jefferson and Oldham Counties have, like previous months, trailed 2010 and only barely topped 2009.

Louisville Home Sales: 7 Year Monthly Chart for period ending March 2011
Each month we will bring to you an easy-to-read chart on how both Jefferson County and Oldham County home sales have performed over the past 7 years.
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Unemployment Proves Bigger Factor in Louisville Real Estate Than Rates, Prices

Experts like Donald Trump and John Paulson have been touting the benefits of investing in real estate since October 2010. On this site, we’ve highlighted the very positive positions of the three key financial indicators for real estate:

  1. Interest rates
  2. Home prices
  3. Inventory
Chart of Metro Louisville Unemployment Rates, 2006-2011
Since late 2008, unemployment rates have jumped significantly. It is interesting that this coincides with the time frame in which Louisville real estate dropped.
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Louisville Housing Market 7 Year Report, Period End February 2011

That’s two months straight with disappointing results in terms of real estate activity. Home sales in Jefferson County just haven’t picked up as some experts have predicted. I guess the only solace is that Louisville isn’t the only city experiencing these results and is performing on par.

Louisville Home Sales: 7 Year Monthly Chart for period ending February 2011
Each month we will bring to you an easy-to-read chart on how both Jefferson County and Oldham County home sales have performed over the past 7 years.
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Golden Post of Real Estate Links

When things get busy, I don’t always remember to post on this site like some of the others. My bad. But to make up for it, here are some real estate posts from Louisville Homes Blog recently:

Photo of many gold coins
A virtual bounty of golden links can be found in the following post about Louisville real estate. | Photo: Jeremy Schultz
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Louisville Housing Market 7 Year Report, Period End January 2011

As with our first post on this feature, home sales in the past two years have been roughly the same and a little better than the previous year.

Louisville Home Sales: 7 Year Monthly Chart for period ending January 2011
Each month we will bring to you an easy-to-read chart on how both Jefferson County and Oldham County home sales have performed over the past 7 years.
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Louisville Rent vs Buy Data to Help You Make Your Choice

Just last week we published, To Sell or Rent Your Louisville Home, That Is the Question! Today we’re looking at a similar topic just reversed. If you are currently renting your place here in Louisville, KY do the numbers indicate that you should continue to rent or buy a new home?

Rent vs. Buy map of America's Top 50 Cities
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Louisville Foreclosures Rise, Improvement on the Horizon

Given that interest rates, home inventories, and average home prices are all favorably positioned for home buyers, why does the housing market continue to muddle about? One of the bigger reasons is distressed homes.

Photo of a home in Louisville KY
As far as I know, this Louisville KY home is not in foreclosure, I just like to have photos of great Louisville homes in my posts. | Photo: Tre Pryor
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Louisville Home Prices Down, Up Depending on Source

Handling data can be a tricky business. This famous quote was directed at how numbers can be manipulated—“There are three kinds of lies: lies, damned lies, and statistics.” With that in mind, I try very hard to present all the information in an unbiased manner and let you make up your mind about how that affects your personal situation in regard to housing here in Louisville.

Charts of Louisville home sales and Louisville home prices for Jefferson County KY MLS area 30 for the 12 month period ending September 2016
As you can see in this market report for Jefferson County KY, home prices are on an upward trend. Data is sourced from the Greater Louisville Association of Realtors (GLAR).
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