New Construction in Louisville Waiting for Rebound

The CJ did a little piece on Monday about where the new construction numbers are and where they’re heading. It should be no surprise to anyone following the situation that most of the action is taking place at the low end of the price range due to the Federal home buyer’s tax incentives, but I did find this quote from a National Association of Home Builders economist interesting.

“It’s like, Louisville behaved really well at the party, but for some reason, you were as hung over as everyone else,” Denk said.

So the numbers would lead us to believe that Louisville’s housing market is poised for a rebound, but because that isn’t happening, what are the causes? Unemployment? Concern over the larger, economic picture? There are experts on both sides of these predictions.