Real Estate Market

We've got a mixed bag of news for home sellers and buyers as we head into March 2010. The number of homes going under contract in Louisville Kentucky was up 23% in February 2010 compared to February 2009. That is great news for sellers but bad news for buyers looking for their first home. The increase in homes going under contract was primarily due to the $8000 first time homebuyer’s tax credit. Buyers looking to make their first investment are finding a buying war for quality homes in the 80-170,000 price range. Unlike many cities around the U.S., Louisville has generally maintained property values in the 1^st time buyers market and in many cases (depending on location) increased over the past few years.

Home sales should increase for Louisville’s more expensive homes as the owners of the first time homes start looking for their move up home. The $6500 move up tax credit for anyone who has owned a home for that past 5 years is still available. Both the first time homebuyers credit and the move up credit require that buyers be under contract by the end of April and close by the end of June.

Feb 2010

 Feb 2009

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