Overall, Louisville Home Sales, Foreclosure Rates Flat Good News For Louisville Market

LOUISVILLE, Ky. – Today, Tony Lindauer, Jefferson County Property Valuation Administrator, announced that the Louisville housing market has remained flat; new housing starts were under 1,000.

“Fourth quarter 2009 showed Louisville housing price increases hovered around zero at -.16, compared to peer cities Nashville -2.14, Indianapolis, -1.36 and Cincinnati at -2.06,” said Lindauer. “Compared to Bakersfield (-12.32) and Naples (-12.3), Louisville is in a much better situation to recover.” said Lindauer, who will release the PVA annual state of the real estate soon.

“This news is encouraging,” said Lindauer. “Housing starts were in at 725 — measured by new building permits – and there are subtle signs of growth.”

There are needy neighborhoods in Louisville, so the market isn’t completely insulated but overall, Louisville seems poised to ride out the storm that is the mortgage crisis.

In the coming weeks, the Jefferson County PVA office will continue to call attention to specific aspects of the upcoming annual report which will be announced in full length.

“We continually mine this and other data from the tax assessment and that research allows us to provide an accurate snapshot of the Louisville housing market,” said Lindauer.

The Jefferson County Property Valuation Administrator is an assessing entity of The Commonwealth of Kentucky whose sole purpose is to value residential, commercial automotive and tangible property. Located in Louisville, the PVA, elected every four years, is Tony Lindauer.

For more information, contact the Property Valuation Administrator at 502.574.6380 or visit www.jeffersonpva.ky.gov.