Louisville generally doesn’t experience the highest highs nor the lowest lows, which generally makes for a more sane situation. On the housing front, today we learn:
Building permits for one- and two-family homes were up 10 percent in the Louisville metro area last month compared with May 2006, according to city records. The Home Builders Association of Louisville reported that the increase held up in surrounding counties as well.
Sure, inventory is still quite high but builders are now working more new home starts because they expect an increase in the number of buyers over the next 12 months.
David Seiders, the national home builder’s chief economist, isn’t convinced and expects sales to drop even further nationally. What this basically says is that the “risky” lending practices that are hurting so many borrowers nationwide, aren’t snagging as many here in Louisville. And that’s good news for us!