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| − | Louisville Real Estate Trends Compared to the Remaining Country
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| − | Beginning with home sales on a national basis, sales of existing homes are up 36 percent as of November 2009 (the most recent property figures available) using their lowest reason for January 2009. Home sales in Louisville are up a more modest 17.4 % within the same period. You need to note, however, that while Louisville's housing market had suffered setbacks consistent with many other areas of the country, these setbacks were mostly not as deep or severe. This puts Louisville's realty market recovery in a a lot more favorable and accurate light.
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| − | Median sales prices are another barometer of the local and national housing market that real estate professionals and economists use to find out property trends. Nationally, median prices of existing single-family homes are down 4.3 percent year-over-year from the previous November with an average value of $171,900. The median value of Louisville properties for sale expires 1.1 % or $1,350 to $126,750. Again, Louisville's gains are modest however with so many housing markets across the country reeling in the housing crisis, Louisville property is outperforming a number of other markets, at least for now.
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| − | Another essential indicator of the market's health is the number of foreclosures. Foreclosures negatively impact housing values and make up a host of other issues plus some neighborhoods across the nation have whole streets with abandoned homes with just one or two occupied. Nationally, the news on foreclosures is grim with another wave of foreclosures expected in mid-2010 as another round of adjustable-rate type of loan increases is due. In the third quarter of 2009, foreclosure filings, including bank repossessions, default notices and scheduled auctions, rose 5 percent from the second quarter to 937,840 properties repossessed. This rise in foreclosures was up a really discouraging 23 percent in the third quarter in 2008.
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| − | [http://www.louisvillerealestate.org/ Louisville real estate]
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| − | Louisville foreclosures are not as dire as the rest of the country, but still a significant problem for homeowners, lenders yet others. Within the latest report available, the Louisville housing market suffered 1,496 foreclosures from September to November 2009. That is still a really high figure for that Louisville metropolitan area; however, compared to comparably sized cities across the country, Louisville is faring much better than most. Area of the reason behind this really is Louisville real estate values didn't escalate as steeply within the previous years as many other markets round the country did, then when they fell, they did not fall as hard.
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| − | Overall, the market isn't great, but very few markets across the country are at the moment. Louisville property prices have stabilized for the time being and therefore are showing modest appreciation. Whether the Louisville realty market will continue to enhance in the coming year is difficult to forecast for the time being, however, many Louisville insiders are confident that it will.
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