It appears we’re at a tipping point where home sales just can’t keep pace with last year. It was a good one… while it lasted. But the specter of low inventory has reared its ugly head and now we’re trending lower.
Even still, things could be worse. See 2011 up on that chart? Yeah, we’ve come a long way since then.
So while Louisville homes sold in July were -8.35% from last year, we’re up 57.74% compared to the first bar on this chart (2011). That’s something to smile about, right?
For those keeping score at home, 2016 beat the previous year four times (February, March, April and May) but lost three times (January, June and July.) In total, housing sales are up +3.31%. Let’s see if August can turn things around.