Louisville Kentucky Real Estate

The Louisville Kentucky newspaper, The Courier Journal recently had an article about United States jobs and payrolls. Employers have added two times the number of jobs that was previously projected for the month of October 2007. The Labor Department also noted that payrolls grew by 166000, and that the unemployment rate didn’t move and is holding steady at 4.7%. All of these are good indicators despite the nervous economy regarding the housing market being soft and mortgage industry being in turmoil. Kentucky’s rate for unemployment is at 6.1%.

The job increases came primarily from the following sectors:

legal services

temporary help firms

hotels & motels

schools

restaurants

bars

hospitals

accounting & book keeping services

government

Those job increases are sufficient to counter the job losses in other sectors - such as: construction companies, mortgage businesses, factories - which can be attributed to the shaky real estate industry.

This is substantially better than most expert economists had predicted as they had only projected an increase of 80000.

October 2007 marks the 50th consecutive month for uninterrupted job growth which is the longest in United States history.

All of these indicators show that the nation should be able to weather the storm of the housing industry.

Locally, Louisville Kentucky real estate growth is making progress. Sales continue to come off at a decent rate - and appear to actually be increasing. Inventory remains high, but is starting to lessen. Its a great time to jump into the Louisville Kentucky real estate market as interest rates remain low, inventory is high so consumer perception is to put their homes for sale at a lower price, and most persons don’t want to move during the holidays so foot traffic through the homes for sale on the market will begin slowing - all of which means that buying a home for sale in Louisville Kentucky right now is a good thing to do.

This entry was posted on Friday, November 16th, 2007 at 4:01 pm and is filed under Shelbyville KY Real Estate, Prospect KY Real Estate, Louisville Real Estate, Goshen KY Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.