Louisville saw a slight decline in its real estate market in 2008 and 2009 and is expected to see 1.1 percent decrease from the first quarter of 2010-2011.
The average price of a home in the Louisville-Jefferson County market is around $136,000. According to CNN Money, this number is expected to rise from 2011-2012 by slightly less than 1 percent.
Mortgage rates in Louisville may also increase. With the federal government selling back Mortgage Backed Securities to the private sector in April 2010, interest rates are no longer protected like they were in 2009 and the early part of 2010.
If you’re in the market for a home today, you can use Louisville Banking Rates to find a mortgage rate that you can afford. It may be wise to lock in your mortgage rate today, while prices are still low.