Louisville Home Sales Skyrocket July 2009!
It’s the home sale version of the cash for clunkers car rebate! Louisville area home sales for the month of July jumped through the roof in July of 2009. Our area saw a 21% increase in home sales from July 2008 but were still 13% below the levels of July 2007 (before the housing market tanked). Another great sign that the Louisville housing market is going in the right direction, homes going under contract in July 2009 compared to the year before were up 32%. The peak performing home prices were in the 100,000- 160,000 and 200,000-250,000 price ranges. Clearly the $8000 first time home buyers tax credit and lower interest rates played a major part in the homes sales increase and at the same time the people living in those entry levels homes were able to buy their next home which would typically be in the 200,000-250,000 price point. The numbers show that the tax credit is a winner and along with the success from the cash for clunkers car traded-in program that was extended again this past Friday, our government should realize that extending and expanding the home buyer tax credit program would go a long way to moving the housing market and economy into the recovered category! For more information about The Medley Sokoler Team, head to www.weselllouisville.com
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140,000 |
July 2008
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Number of Houses Under Contract |
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141,000 |
