During the second quarter of 2009, some parts of the country saw modest gains in economic recovery, but Louisville’s economy still appears to be struggling according to a Metro Monitor study released recently by the Brookings Institute. In a ranking of 100 metro areas in the U.S. measured by the unemployment rate, gross metropolitan product, housing prices and percentage of change in employment, Louisville’s economy ranked in the lower half. Most of Louisville’s economic problems were, in part, the number of automotive and auto-parts manufacturing businesses and financial-services companies, according to the Institute. Of the 100 largest metropolitan areas in the country, only twelve showed greater declines in gross metropolitan product from their peak quarter to the second quarter of 2009. In the second quarter of this year, the Louisville housing market saw a 1.5 percent increase in prices between the second quarter of 2008 and the second quarter of 2009. Louisville real estate agents welcomed the modest gain in prices, however slight, as a sign that the area’s real estate market was on the cusp of recovery. Given the diversity in Louisville’s housing market, area real estate professionals are confident that Louisville commercial and residential real estate will rebound in the near future after suffering the same problems that metropolitan areas across the country are experiencing. They expect the city’s residential real estate market to experience measurable gains before the commercial market as business development in the area is expected to remain flat or only see slight gains for the near future. If you need help the help of a Louisville real estate professional, please contact Louisville Properties at 502-744-9504.