September sales of Louisville homes continued the recent slump with Louisville real estate agents selling 29 percent fewer homes and condos than they did the previous September.  Members of the Greater Louisville Association of Realtors cited the expired first-time homebuyer tax credit and job uncertainty as the chief reasons for lower home sales. The decrease in home sales began last July here and in many housing markets across the country, and September’s drop in sales reflected the steepest drop so far this year. Despite the three-month slump in sales, some Louisville real estate agents were quick to note that Louisville home sales for the year are still up overall from 2009’s sales. They also pointed out that median home selling prices are up sharply from last year’s $132,450 at this time to this year’s $138,000. Home sales across the country dropped 19 percent in September year-over-year and reflected the caution many prospective buyers are exercising due to job losses and other economic uncertainty. Louisville home sales may be slumping over the last three months. However, steadily increasing median home selling prices indicate that the local housing market is fairly resilient and now may be the right time to invest in homes as a primary residence or income property. The people who aren’t buying homes are renting, and the rental trend has been growing for the last couple of years. If the volatility of the stock market and low yields on T-bills have you looking for other investment opportunities, call us today at 502.744.9504and let us know how we can help. We look forward to hearing from you!