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Louisville has been picked as one of top cities to buy a home!
By Bob | March 12, 2010
You can have a slice of the Louisville real estate pie and maybe more ! Forbes Magazine has picked Louisville Kentucky (click here to see website) as the second best city in the United States to buy a home (Pittsburg Pa. was number 1)!
Shocking..? Not when you look at the criteria!
To start with, Forbes based their picks on low foreclosures, housing affordability and rising house prices. Specifically, here in Louisville Kentucky, most housing is accessible to middle-income families, plus there isn’t a glut of foreclosures dragging down Louisville Real Estate prices.
Best of all, median home sale prices appear to be on the rise. Forbes used data from The National Association of Home Builders and Wells Fargo, Moody’s Economy.com and RealtyTrac.
Louisville numbers looked this way:
1) Louisville’s foreclosure rate — only 1.15 percent of homes are in foreclosure, that happens to be half the national average which means Louisville is one of the cities least affected by this aspect of the dramatic housing market collapse. The reason for that is because over the past three years our area had less of a housing boom than much of the rest of the country. In fact while coastal cities and vacation destinations were in double digit appreciation, Louisville homes only appreciated 3 %.
2) Louisville’s homes are also more reasonably priced than much of the rest of the country. The Housing Opportunity Index: 84.3
3) Housing prices in the Louisville area have started to rise thanks to items 1 and 2.
For more information on buying or selling a home, head to www.weselllouisville.com.
Topics: For Buyers, For Sellers | 1 Comment »
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