Looking back over the past 12 months, of the monthly reports we publish here at Louisville Homes Blog, only two MLS areas have higher trend points now than they did. I expect more improvement in this area going forward, unless consumer confidence takes a hit via the upcoming election.
Global confidence in Obama is worsening and that’s likely to further seep into the country’s mindset as well, if re-elected. Projecting future real estate performance depends a great deal on the outcome of November’s elections.
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Note: Below you’ll find our monthly reports for the following Louisville housing markets. These charts display Louisville home sales and Louisville median home values with a trend-line.
Monthly Reports: Period Ending September 2012
Sales in Area 2 continue to impress with a nice jump in August. Home prices drop slightly but the trendline, ever important, continues to move upward even if it’s quite small. I expect prices to slowly return to higher levels over the next two years.
A decent month for this area, in terms of home sales, but prices dropped to their lowest levels since January 2010. Hopefully this is just a monthly anomaly and not an ongoing move for this established Louisville area.
Home sales in Area 9 have been solid, steadily beating 2011. Home values are not experiencing the same rejuvination. The past few months have been improving however, and I expect that trend to continue through the end of the year.
This is the worst performing area for the month, with both disappointing home sales and home values under-performing for the second straight month. Perhaps, the gains of the previous year are requiring a re-balancing act.