There are a myriad of economic indicators that shed light on the future of real estate. Some, like mortgage rates, are extremely positive. Others are not.
One is new home building permits. Here in Louisville, newly issued permit numbers are down.
In Louisville, building permits are also down, mirroring the national trend. So far this year, Metro government has issued 592 permits for new single-family home construction — down from 789 during the same period in 2008, according to the city’s Codes and Regulations department Web site.
We’ll have to wait and see how things move heading into the Holidays. Traditionally, the Holidays have fewer real estate transactions.