New Louisville home sales numbers for November shocked everyone!. After all closings were recorded, Louisville home sales jumped by a whopping 50.28 Percent in November when compared to a November 2008 (see table below)! We can thank the $ 8000 first time home buyers tax credit for the massive increase. Looking at a breakdown of the sales, many were in the $100,000 to $200,000 price range, the target of first time buyers. Sellers of those homes moved up as homes in the $200,000 to $300,000 price point also did well.
Because of tighter mortgage requirements, slower appraisals, cold weather and the holidays home sales for December could be worse than expected. Unless we see more buyers come into the market during December and January, Home sale figures for the beginning of 2010 could fall far short of hopes and expectations.

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Comp 2009 S: 552 639 832 910 1032 1284 1307 1144 1192 1201 1052 207 Ref 2008 S: 752 899 1033 1067 1232 1230 1248 1162 1108 976 698 790 % Change S: -26.59% -28.92% -19.45% -14.71% -16.23% 4.39% 4.72% -1.54% 7.58% 23.05% 50.71% -73.79%
Dollar Volume of Sold Listings
2009 2008 Diff % Chg JAN $80,294,552 $121,129,042 $40,834,490 -33.71% FEB $96,683,552 $145,437,681 $48,754,129 -33.52% MAR $124,410,664 $164,811,721 $40,401,057 -24.51% APR $142,720,922 $180,098,232 $37,377,310 -20.75% MAY $159,279,648 $206,809,802 $47,530,154 -22.98% JUN $221,245,301 $227,028,927 $5,783,626 -2.54% JUL $223,970,935 $215,807,729 -$8,163,206 3.78% AUG $185,313,250 $206,793,171 $21,479,921 -10.38% SEP $180,775,632 $172,919,727 -$7,855,905 4.54% OCT $195,028,397 $153,494,884 -$41,533,513 27.05% NOV $168,976,574 $111,626,951 -$57,349,623 51.37% DEC $33,794,007 $117,079,985 $83,285,978 -71.13%