Quick. In one word, describe Louisville’s housing market? Down? Bad? Wait a minute… not so fast. Let’s look at the facts of the case.
Much of our perception comes from national media outlets. These are the same people who thrive on bad news like the paparazzi who practically kill themselves to get bad photos of Lindsey Lohan. All we hear is that the market is “down” but without historical data, otherwise known as perspective, how down is it really?
Enter my new favorite writer at the CJ, Alex Davis. His story Sunday highlights the fact that the market in Louisville isn’t down at all. In fact it’s up! (Something most Realtors should already know.)
The median price of a home in the Louisville area has risen nearly 5 percent a year over the past two decades—better than inflation, and about the same as the national rate.
Last year our home appreciation was 2.2% and this year we’re on track to pass 1%.
While it’s certainly a buyer’s market, (which is also very good news depending on your situation) the overall housing market is still healthy and growing here in Louisville, Kentucky.