National Average Finally Positive, Kentucky Beats Nation

Photo of Louisville home in Norwood Estates
Kentucky beats nation when it comes to certain real estate metrics. (Photo: Tre Pryor)

First American CoreLogic produces some great reports. Not great in the sense that everything is positive but that they are very thorough and timely. This most recent report has this to say about real estate in Louisville, Kentucky.

In Louisville-Jefferson County, home prices, including distressed sales, increased by 0.87 percent in February 2010 compared to February 2009. This compares to January’s year-over-year HPI, which was -0.10 percent.** Excluding distressed transactions, year-over-year HPI for February is 0.37 percent, compared to January which was 0.92 percent.

First American CoreLogic is projecting the 12-month forecast for Louisville-Jefferson County home prices, including distressed sales, will be 1.66 percent.

The housing market increased 0.87 compared to the national average of 0.30. The 12-month forecast for all of Kentucky is 0.9% compared to a prediction of -3.4% for the nation. So you can see that Louisville real estate is, at this point, outperforming the country.

Kentucky beats nation… yeah! As always, you can see the current average Louisville home price on this page.

Below is the entire chart if you’d like to see each state’s performance and forecast. More can also be found in their white paper titled, Measuring the Effect of the Housing Stimulus Programs on Future House Prices (PDF).

February HPI State and National Ranking:

State February 2010 12 Month HPI
Change by State
12 Month Forecast
(February 2010 – February 2011)
Single Family Combined Single Family Combined Excluding Distressed Single Family Combined Single Family Combined Excluding Distressed
National 0.3% 0.6% -3.4% 4.9%
Idaho -13.7% -5.2% -2.2% 7.6%
Nevada -12.9% -12.0% 2.4% 1.2%
Florida -8.5% -7.6% -1.6% 2.3%
Illinois -8.3% -4.8% -2.8% 4.2%
Oregon -7.7% -4.8% -3.2% -0.2%
Alabama -7.7% -4.0% -0.6% 3.9%
Maryland -7.5% -3.2% -1.5% 5.3%
Arizona -6.7% -7.1% 2.0% 4.4%
Wyoming -6.7% -4.7% -2.5% 0.0%
Utah -6.3% -5.8% -1.3% 1.0%
Washington -5.9% -4.4% -4.8% -0.4%
Michigan -4.7% -9.1% -9.7% -9.8%
Kansas -4.4% -3.1% -3.6% 2.5%
New Jersey -3.7% -2.3% 0.7% 5.9%
West Virginia -3.5% -2.2% -1.0% 2.9%
Tennessee -3.4% -1.7% -2.3% 2.1%
Pennsylvania -3.1% -1.5% -1.3% 2.4%
Georgia -2.9% -1.2% -3.7% 1.4%
Mississippi -2.9% 0.2% -0.6% 2.9%
North Carolina -2.3% -2.2% -1.2% 0.9%
Alaska -2.3% -1.8% -1.2% 5.1%
Louisiana -1.8% 0.8% 0.6% 3.5%
Wisconsin -1.8% -1.8% -1.1% 2.6%
New Mexico -1.5% 0.0% -1.0% 6.1%
Montana -1.4% -0.8% 0.3% 1.4%
Rhode Island -1.4% -4.8% 7.4% 3.4%
Missouri -1.1% -0.2% -2.5% 2.3%
Oklahoma -1.1% -2.2% -0.4% -0.1%
South Carolina -1.0% 0.0% 0.1% 3.6%
Delaware -0.8% 1.7% -0.1% 4.8%
Connecticut -0.5% -1.1% -1.3% 4.8%
Indiana -0.3% -0.9% -2.5% 2.2%
New York -0.3% 1.8% 0.5% 5.9%
South Dakota -0.2% 1.4% 0.7% 4.1%
Minnesota 0.1% -1.9% -2.0% 1.5%
Iowa 0.6% -0.1% 1.4% 3.4%
Arkansas 0.9% 1.0% 1.7% 1.3%
Texas 1.7% 0.2% 1.1% 1.7%
Ohio 2.5% 0.0% -1.1% 1.4%
New Hampshire 2.5% 0.5% 0.7% 3.7%
District of Columbia 2.5% 5.4% -0.8% 5.4%
Kentucky 2.5% 2.0% 0.9% 3.5%
California 2.8% 4.6% -1.8% 8.0%
Nebraska 2.8% 1.9% 0.6% 4.2%
Hawaii 3.4% 7.6% -1.3% 5.5%
Colorado 4.6% 4.1% 3.8% 8.5%
Massachusetts 5.6% 2.9% 6.0% 6.0%
Virginia 6.2% 3.7% 7.4% 10.1%
Vermont 8.7% 3.3% 3.2% 5.1%
North Dakota 9.0% 8.6% 6.7% 7.7%
Maine 11.9% 4.4% 3.7% 7.1%

Source: First American CoreLogic, LoanPerformance HPI as of February 2010.