{"id":274,"date":"2008-12-09T19:03:09","date_gmt":"2008-12-09T23:03:09","guid":{"rendered":"https:\/\/louisvillehomesblog.com\/?p=274"},"modified":"2023-09-04T17:38:52","modified_gmt":"2023-09-04T17:38:52","slug":"louisville-weathers-the-housing-crunch-beats-cincinnati-indianapolis","status":"publish","type":"post","link":"https:\/\/trepryor.com\/blog\/louisville-weathers-the-housing-crunch-beats-cincinnati-indianapolis\/","title":{"rendered":"Louisville Weathers the Housing Crunch; Beats Cincinnati, Indianapolis"},"content":{"rendered":"\n

My thanks to a reader who thoughtfully sent this in. The Wall St. Journal does certain things very well. One of them is their “handy-dandy” charts. The other is their in-depth analysis. This time with Shrinking Prices, Rising Delinquencies<\/a> they only batted .500. This was due in large part to the chart not working properly. That’s OK, we’ll forgive them because this piece wasn’t hidden behind a subscriber log-in.<\/p>\n\n\n\n\n\n\n\n

So how did we do? Since the housing market peak in the 4th quarter of 2005, the median home price in Louisville, Kentucky is up 3.2%!<\/strong> Now, this isn’t the 4-5% annual appreciation we’re used to seeing in our city but in a housing recession that many are calling the worst of 50 years, I’ll take it!<\/p>\n\n\n\n

It’s always helpful to compare data from Louisville with other cities of similar size in our geographic region.<\/p>\n\n\n\n

Relative to price at U.S. housing market peak (%)<\/h3>\n\n\n\n

Nashville, Tennessee 106.6
Knoxville, Tennessee 105.1
Louisville, Kentucky 103.2<\/strong>
Cincinnati, Ohio 99.9
Evansville, Indiana 98.2
Columbus, Ohio 97.8
Indianapolis, Indiana 97.1
Memphis, Tennessee 95.4<\/p>\n\n\n\n

Turns out Louisville performs better than some, worse than others.<\/p>\n\n\n\n

Louisville’s delinquency rate of 3.30 is less than the national average of 3.86 and the rate of that change also trails the national average, which is a good thing.<\/p>\n\n\n\n

Should I Buy?<\/h3>\n\n\n\n

I’m not<\/strong> going to say that everyone should be buying real estate this year. It’s a complicated decision with many variables. But what I do know is that depending on your personal situation<\/a>, now is a great time for families looking to move up in overall home value. In this housing market, those families will realize a substantial financial benefit. Here’s why:<\/p>\n\n\n\n

\n

“The amount you will likely lose in the sale of your current home will be more than<\/em> surpassed by the amount you save on the purchase of a more expensive home.”<\/p>\n<\/blockquote>\n\n\n\n

When you couple that fact with interest rates, assuming you can qualify, which are towards the bottom end of historical lows<\/a>, making this kind of move in our market is a wise decision.<\/p>\n\n\n\n

However, if your personal situation says you need to downsize or make a lateral move, then from a financial perspective, this is not the best time for you to make a move.<\/p>\n","protected":false},"excerpt":{"rendered":"

My thanks to a reader who thoughtfully sent this in. The Wall St. Journal does certain things very well. One of them is their “handy-dandy” charts. The other is their in-depth analysis. This time with Shrinking Prices, Rising Delinquencies they only batted .500. This was due in large part to the chart not working properly. 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