Louisville Housing Market 7 Year Report, Period End May 2011

May has disappointed me greatly. I had far greater plans in mind only to see them dashed on the rocks.

Louisville Home Sales: 7 Year Monthly Chart for period ending May 2011
Jefferson County home sales for May 2011 were close to 2009 levels, which was a bad year. Oldham County fared better but clearly, the housing market has ground to make up.

According to GLAR data, there were only 664 homes sold in Jefferson County during the month of May. This is down more than 30% from May 2010 when we saw 954 homes sold. This is actually the lowest number of sales going back to the mid-’90s.

May saw 73 homes in Oldham County sell during May which was only a 10% drop from 2010. Clearly, the market is not rebounding as economic uncertainty stemming from government deficits has affected many who might otherwise purchase while most real estate conditions remain extremely favorable.