Due to the restrictions that were mandated across the country, real estate has taken a major hit. Today Realtor.com has published its Housing Market Recovery Index to try and predict when the recovery may arrive. This is for the top 50 markets in the U.S. and is based off their data in these four areas:
- 1. Housing Demand: based on realtor.com online search activity (10%)
- 2. Housing Prices: based on median list prices (30%)
- 3. Housing Supply: based on new listings (30%)
- 4. Pace of Sales: based on median time on market (30%)
Here is their index for the Greater Louisville real estate market.
As you can see it appears that as of the second week in June, we are fairly close to the projected recovery line.
It’s also interesting to note that during the first month covered in this chart, the Louisville real estate market performed quite well. It wasn’t until mid-March that the decline truly hit.
The May 2020 Louisville Real Estate Report is the most current report published on Louisville Homes Blog. Expect the June report to be published prior to July 10th.
If you’re interested, head over to the Housing Market Recovery Index page for more information on the Louisville market, and the other 49 markets covered in this index.