Mt. Washington Homes Withstand Recession!

The recession started in December 2007 so I ran the numbers on five of the metro area’s most populous counties to see how our  market is weathering the storm.

Louisville has historically been stable, avoiding the effervescent fevers and crashes that other parts of the country sometimes suffer.

But this downturn is different because it’s broader and deeper than the pullbacks of recent memory.   It’s no surprise  that our market is getting battered with the rest of the country but some areas have a cold while others have the flu.

The 1st chart below points out we have suffered a pandemic.  Jefferson and  all the major east-end counties are in negative territory since the downturn started in ‘07.

Going back a little farther, to the beginning of 2005, flushes out the sickest areas.  Bullitt and Shelby Counties show they were beginning to weaken, probably from the fast pace of new construction, while Spencer County is revealed to be clearly overbuilt.

Meanwhile, Mt. Washington plugs along, the steadiest of the steady with no appreciable decline in real estate values since the onset of the recession of ‘07.