: 3.0% Construction permits
: 5.8 per 1,000 homes
Employment growth is the main reason behind the optimism for the Louisville housing market. Jobs in the area grew by 2.7% in the first 10 months of the year, which is among the top growth rates of the 100 largest housing markets. There has been a disproportionately strong growth in manufacturing, especially for automobiles. The Louisville housing market fared better than most during the economic downturn, with prices falling just 4.7% from peak to trough. Despite this, construction has still been relatively slow, at just 51% of the area’s historical normal rate in the first eight months of 2012.
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