Home Sales Down In Louisville, 1.4 Year over Year

[Rob Bergeron]

https://insiderlouisville.com/economy/mbb20180820/...

Honestly, this isn't surprising. Plain and simple we don't have any single family inventory and builders don't really have anywhere to build. This is why Mount Washington is essentially becoming a suburb of Louisville and you are seeing a lot of growth directly across the river in Southern Indiana. This is a great time to buy and fix up due to the lack of inventory. I am seeing a huge price increase in Hikes Point and Ferncreek. Strangely enough there are plenty of multifamily properties and cash flowing portfolios available in the area. The real squeeze is for single family. Another factor to consider, the slowdown for July can also be due to people getting in their vacations before school starts and people being hesitant to list their homes with school starting. I think you'll see an increase in movement come September. The amount of people looking is smaller, but a lot of these people have been eager to buy for awhile, but missing out due to multiple offers. I'm also seeing a slight slowdown by my investors. They seem to be more weary of the higher price point flips with the holidays fast approaching. My advice would to find some more extensive projects and get those rolling through the winter and have them ready to go in January/February/March.