December finishes up a much stronger year for Louisville real estate. We’ll be publishing a more thorough year in review article in the coming weeks but it’s safe to say that 2012 surpassed the previous three years in total homes sold.
Experts are predicting further improvement over the course of 2013.
Home values should certain begin to regain their values that were lost during the worst housing recession in American history.
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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 December 2012
Area 3 in Louisville continues to see its real estate values decline on the trend but things could be turning around as we head into the new year. Home sales for this area fell just short of the previous year’s total for December.
Home values for this Louisville area appear to be moving lower but don’t be surprised if that starts to change in 2013. A data anomaly occurred with a huge November followed by a weaker December, barely beating out the previous year. This happens all the time with small data sets but 100 homes were sold, so it’s perplexing.
Home values were steady for the year and haven’t begun their return to 2007 levels as of yet. The new year should see them improve, as it will for most Louisville homes. Sales couldn’t better the previous year’s mark but it was a strong year in total.
Definitely the worst area for home prices in the Greater Louisville area in 2012. Some has to be attributed to new construction of smaller, less expensive homes but it’s still concerning. Sales, however, have been improved and and especially strong December is encouraging.