As we all know, all Real Estate is local.  In Louisville we are fortunate that the local trends are much more positive than the National trends.

According to National Association of Realtors® local market report, the current Median Home Prices for Louisville in second quarter of 2010 is at $136,400.  This number of Louisville Houses sold is up from a year ago.

Real Estate remains a long-term investment and those who bought Louisville houses early in the boom still hold some equity.

Louisville houses

The state existing home sales in 2010 Q2 vs 2009 Q2 is 30.5%. This sales level is much higher than a year ago and continues to grow.

The local economic outlook for Louisville as pertaining to employment, shows that employment has held up and is on an upward trend. Louisville’s unemployment rate lags the national average, but has improved relative to the same period last year.  Local employment growth is respectable compared to other markets.

Looking at the new construction activity shows that the current level of construction is 53.1% below the long-term average. It is expected that the reduced construction will limit new supply to the Louisville house market allowing demand to catch up with current supply and foreclosures more quickly.  The good news is that construction is on the rise, suggesting that inventories have stabilized.

We must focus on the positive in the current market and hold on tight for the market to return to normal.  We will get there!