Money Magazine Forecasts Modest Gains for Louisville Homes

Listening to Money’s opening thrust of this article:

The S&P Case/Shiller Home Price Index, which tracks 20 of the largest housing markets, showed prices plummeting by 12.7% in the 12 months ending February. That’s the biggest fall since the index began tracking prices in 2000.

…the future doesn’t sound very bright, well, except for people living in Texas. Meanwhile, here in Kentucky, things don’t look nearly so bleak.

Metro Area Home Price
Price Change
(5 years)
Forecast (May ’09) % change in foreclosure rate
(1 year)
Louisville $133,000 20.7% 0.5% 17%

It is, after all, a positive gain and which could turn out to be even higher. The housing market here in Louisville is stronger than many other parts of the country. Just look at their predictions for some of our neighboring cities.

Indianapolis: 1.3%
St. Louis: -0.8%
Memphis: -1.5%
Nashville: -3.3%
Cincinnati: -4.2%
Columbus: -4.4%

Florida is getting absolutely hammered. Retirees putting a priority on economic factors might not be heading South for their silver years.